Skandinaviska Enskilda Banken AB publ Trims Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Skandinaviska Enskilda Banken AB publ lessened its stake in Fluence Energy, Inc. (NASDAQ:FLNCFree Report) by 7.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 392,762 shares of the company’s stock after selling 30,777 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.22% of Fluence Energy worth $9,035,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC increased its holdings in shares of Fluence Energy by 22.0% in the third quarter. HighTower Advisors LLC now owns 15,819 shares of the company’s stock valued at $360,000 after purchasing an additional 2,849 shares during the period. Shell Asset Management Co. lifted its position in shares of Fluence Energy by 462.1% in the third quarter. Shell Asset Management Co. now owns 125,739 shares of the company’s stock valued at $2,891,000 after acquiring an additional 103,368 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Fluence Energy by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 304,649 shares of the company’s stock worth $7,004,000 after buying an additional 21,416 shares during the period. Swiss National Bank lifted its position in Fluence Energy by 1.6% during the third quarter. Swiss National Bank now owns 90,000 shares of the company’s stock worth $2,069,000 after buying an additional 1,400 shares during the period. Finally, Hussman Strategic Advisors Inc. purchased a new position in Fluence Energy during the third quarter worth about $3,621,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Performance

Shares of NASDAQ FLNC opened at $22.43 on Monday. Fluence Energy, Inc. has a fifty-two week low of $14.70 and a fifty-two week high of $31.32. The business has a 50 day moving average price of $22.27 and a two-hundred day moving average price of $22.40.

Fluence Energy (NASDAQ:FLNCGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $363.96 million for the quarter, compared to analyst estimates of $403.93 million. During the same quarter last year, the business earned ($0.21) EPS. Fluence Energy’s revenue for the quarter was up 17.2% compared to the same quarter last year. As a group, sell-side analysts expect that Fluence Energy, Inc. will post 0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fluence Energy news, major shareholder Siemens Pension Trust E. V sold 7,087,500 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $22.05, for a total transaction of $156,279,375.00. Following the transaction, the insider now owns 11,761,131 shares of the company’s stock, valued at approximately $259,332,938.55. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FLNC has been the topic of several recent analyst reports. BMO Capital Markets upgraded Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a research report on Tuesday, January 16th. Roth Mkm upgraded Fluence Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $27.00 to $31.00 in a research note on Monday, December 4th. Bank of America upped their price target on Fluence Energy from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. BNP Paribas initiated coverage on Fluence Energy in a research note on Friday, October 20th. They set an “underperform” rating and a $18.00 price target for the company. Finally, Morgan Stanley upped their price target on Fluence Energy from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, December 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.42.

View Our Latest Stock Analysis on Fluence Energy

Fluence Energy Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Fluence Energy (NASDAQ:FLNC)

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