Westwood Holdings Group Inc. Decreases Stake in Fluence Energy, Inc. (NASDAQ:FLNC)

Westwood Holdings Group Inc. cut its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 57.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,216 shares of the company's stock after selling 79,387 shares during the period. Westwood Holdings Group Inc.'s holdings in Fluence Energy were worth $924,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in Fluence Energy during the fourth quarter worth about $34,000. Tower Research Capital LLC TRC raised its stake in Fluence Energy by 827.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock worth $88,000 after purchasing an additional 4,921 shares during the period. Blueshift Asset Management LLC purchased a new position in Fluence Energy during the fourth quarter worth about $176,000. Envestnet Asset Management Inc. raised its stake in Fluence Energy by 47.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company's stock worth $211,000 after purchasing an additional 4,285 shares during the period. Finally, Polymer Capital Management US LLC purchased a new position in Fluence Energy during the fourth quarter worth about $212,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Cynthia A. Arnold purchased 33,000 shares of the stock in a transaction on Monday, May 12th. The stock was bought at an average price of $5.90 per share, for a total transaction of $194,700.00. Following the acquisition, the director now directly owns 86,202 shares of the company's stock, valued at approximately $508,591.80. The trade was a 62.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $5.41 per share, with a total value of $54,100.00. Following the acquisition, the director now directly owns 115,861 shares in the company, valued at $626,808.01. This represents a 9.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by company insiders.

Fluence Energy Price Performance

Shares of FLNC opened at $5.36 on Wednesday. Fluence Energy, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $26.12. The firm's 50 day moving average price is $4.60 and its 200 day moving average price is $10.93. The company has a market cap of $973.10 million, a P/E ratio of -107.20 and a beta of 2.49. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. The firm had revenue of $431.62 million for the quarter, compared to analyst estimates of $328.17 million. During the same quarter last year, the firm earned ($0.07) EPS. The company's revenue was down 30.7% on a year-over-year basis. On average, research analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on FLNC shares. Citigroup reduced their target price on shares of Fluence Energy from $24.00 to $10.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 11th. Piper Sandler dropped their price target on shares of Fluence Energy from $10.00 to $4.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Jefferies Financial Group cut shares of Fluence Energy from a "hold" rating to an "underperform" rating and dropped their price target for the company from $4.00 to $3.00 in a research report on Thursday, May 15th. Morgan Stanley lifted their price target on shares of Fluence Energy from $4.00 to $5.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, Roth Mkm cut shares of Fluence Energy from a "buy" rating to a "neutral" rating and dropped their price target for the company from $20.00 to $6.50 in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $8.21.

Fluence Energy Company 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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