Handelsbanken Fonder AB Grows Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Handelsbanken Fonder AB raised its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 145.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,880,052 shares of the company's stock after purchasing an additional 1,706,808 shares during the quarter. Handelsbanken Fonder AB owned 1.62% of Fluence Energy worth $68,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Advisor Group Holdings Inc. lifted its holdings in shares of Fluence Energy by 47.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 14,566 shares of the company's stock worth $191,000 after acquiring an additional 4,678 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Fluence Energy by 20.2% in the 1st quarter. Bank of New York Mellon Corp now owns 71,351 shares of the company's stock worth $935,000 after acquiring an additional 12,007 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Fluence Energy by 12,279.5% in the 1st quarter. Citigroup Inc. now owns 263,064 shares of the company's stock worth $3,449,000 after acquiring an additional 260,939 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Fluence Energy by 54.0% in the 1st quarter. Bank of Montreal Can now owns 12,834 shares of the company's stock worth $171,000 after acquiring an additional 4,501 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Fluence Energy by 802.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 96,747 shares of the company's stock worth $1,268,000 after acquiring an additional 86,025 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors.

Fluence Energy Stock Performance

Shares of Fluence Energy stock traded down $0.48 during trading on Friday, hitting $15.10. The company's stock had a trading volume of 1,298,369 shares, compared to its average volume of 1,477,204. The company has a fifty day simple moving average of $16.28 and a two-hundred day simple moving average of $19.37. The company has a market capitalization of $2.70 billion, a PE ratio of -28.49 and a beta of 2.57. Fluence Energy, Inc. has a 52 week low of $13.03 and a 52 week high of $31.32.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Fluence Energy had a negative net margin of 2.72% and a negative return on equity of 11.18%. The firm had revenue of $363.96 million for the quarter, compared to analysts' expectations of $403.93 million. During the same period last year, the company posted ($0.21) earnings per share. The business's revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, analysts predict that Fluence Energy, Inc. will post 0.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Fluence Energy from $32.00 to $26.00 and set a "buy" rating for the company in a report on Friday, March 22nd. BMO Capital Markets raised shares of Fluence Energy from a "market perform" rating to an "outperform" rating and set a $27.00 price target for the company in a research report on Tuesday, January 16th. Piper Sandler dropped their price target on shares of Fluence Energy from $25.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, April 11th. Raymond James raised shares of Fluence Energy from a "market perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. raised shares of Fluence Energy from a "neutral" rating to an "overweight" rating and set a $23.00 price target for the company in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.56.

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.