Fluence Energy, Inc. (NASDAQ:FLNC) Shares Sold by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. lessened its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 60.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 63,000 shares of the company’s stock after selling 94,500 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Fluence Energy were worth $1,503,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. DNB Asset Management AS acquired a new stake in shares of Fluence Energy in the 4th quarter worth $666,000. Schroder Investment Management Group lifted its stake in shares of Fluence Energy by 65.2% in the third quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company’s stock valued at $61,950,000 after purchasing an additional 1,063,609 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Fluence Energy in the third quarter valued at about $5,916,000. Assenagon Asset Management S.A. lifted its stake in shares of Fluence Energy by 6.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 13,648 shares of the company’s stock valued at $326,000 after purchasing an additional 849 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Fluence Energy by 43.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 909,841 shares of the company’s stock valued at $22,364,000 after purchasing an additional 275,489 shares during the period. Institutional investors and hedge funds own 53.16% of the company’s stock.

Wall Street Analyst Weigh In

FLNC has been the subject of several recent analyst reports. Raymond James upgraded shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Wednesday, April 3rd. Susquehanna upgraded shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price for the company in a research report on Monday, February 26th. BMO Capital Markets upgraded shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 target price for the company in a research report on Tuesday, January 16th. The Goldman Sachs Group cut their target price on shares of Fluence Energy from $32.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, Piper Sandler cut their target price 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.56.

Fluence Energy Price Performance

Shares of NASDAQ FLNC opened at $15.25 on Monday. The company has a market cap of $2.72 billion, a PE ratio of -28.49 and a beta of 2.57. Fluence Energy, Inc. has a 12 month low of $13.03 and a 12 month high of $31.32. The company has a 50-day simple moving average of $16.28 and a 200-day simple moving average of $19.35.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Wednesday, February 7th. The company reported ($0.14) earnings per share (EPS) 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 company had revenue of $363.96 million during the quarter, compared to analysts’ expectations of $403.93 million. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. Fluence Energy’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, analysts anticipate that Fluence Energy, Inc. will post 0.14 EPS for the current 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.