Voya Investment Management LLC Sells 290,261 Shares of Fluence Energy, Inc. $FLNC

Key Points

• Voya Investment Management LLC reduced its holdings in Fluence Energy, Inc. by 94.5%, selling 290,261 shares during the first quarter, leaving them with only 16,935 shares valued at $82,000.
• Several institutional investors, including Goldman Sachs and AQR Capital Management, increased their stakes significantly in Fluence Energy, reflecting a growing interest from institutional investors.
• Analysts have set new price targets for Fluence Energy, with UBS Group raising its target from $6.00 to $8.00 and JPMorgan Chase increasing its target from $8.00 to $9.00 while most analysts maintain a consensus rating of "Hold."

Voya Investment Management LLC reduced its holdings in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 94.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,935 shares of the company's stock after selling 290,261 shares during the period. Voya Investment Management LLC's holdings in Fluence Energy were worth $82,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in Fluence Energy by 189.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock worth $15,380,000 after buying an additional 2,076,668 shares during the period. CenterBook Partners LP bought a new position in Fluence Energy in the 1st quarter worth approximately $12,458,000. Invesco Ltd. increased its position in Fluence Energy by 152.4% in the 1st quarter. Invesco Ltd. now owns 925,011 shares of the company's stock worth $4,486,000 after buying an additional 558,498 shares during the period. AQR Capital Management LLC grew its holdings in shares of Fluence Energy by 1,441.8% during the 1st quarter. AQR Capital Management LLC now owns 900,674 shares of the company's stock worth $4,368,000 after purchasing an additional 842,257 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Fluence Energy during the 1st quarter worth approximately $4,180,000. 53.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FLNC. UBS Group lifted their price objective on Fluence Energy from $6.00 to $8.00 and gave the stock a "neutral" rating in a report on Wednesday, August 27th. JPMorgan Chase & Co. lifted their price objective on Fluence Energy from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Friday, September 19th. Royal Bank Of Canada decreased their price objective on Fluence Energy from $8.00 to $7.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 13th. Hsbc Global Res lowered Fluence Energy from a "hold" rating to a "moderate sell" rating in a report on Wednesday, August 13th. Finally, HSBC lowered Fluence Energy from a "hold" rating to a "reduce" rating and set a $5.00 price objective on the stock. in a report on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Fluence Energy currently has a consensus rating of "Hold" and an average price target of $8.13.

Fluence Energy Trading Up 24.5%

Shares of FLNC opened at $13.45 on Thursday. The stock has a fifty day moving average price of $8.39 and a two-hundred day moving average price of $6.48. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.06 and a current ratio of 1.64. Fluence Energy, Inc. has a 52-week low of $3.46 and a 52-week high of $24.00. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -64.05 and a beta of 2.76.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. Fluence Energy had a negative return on equity of 3.42% and a negative net margin of 0.76%.The firm had revenue of $602.53 million during the quarter, compared to the consensus estimate of $738.52 million. The company's revenue was up 24.7% on a year-over-year basis. Fluence Energy has set its FY 2025 guidance at EPS. Analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Fluence Energy Profile

Fluence Energy, Inc, through its subsidiaries, offers energy storage products and solution, services, and artificial intelligence enabled software-as-a-service products for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.

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