Mirae Asset Global Investments Co. Ltd. Has $2.56 Million Stock Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in Fluence Energy, Inc. (NASDAQ:FLNC) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,177 shares of the company’s stock after selling 5,688 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Fluence Energy were worth $2,556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. 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 buying an additional 275,489 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Fluence Energy in the fourth quarter valued at about $270,000. Arizona State Retirement System raised its holdings in shares of Fluence Energy by 50.6% in the fourth quarter. Arizona State Retirement System now owns 17,547 shares of the company’s stock valued at $418,000 after purchasing an additional 5,895 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings 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 last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Fluence Energy in the fourth quarter valued at about $207,000. 53.16% of the stock is owned by institutional investors.

Fluence Energy Trading Down 2.5 %

FLNC stock opened at $15.58 on Friday. The firm has a 50 day moving average of $16.55 and a 200-day moving average of $19.45. Fluence Energy, Inc. has a 12 month low of $13.03 and a 12 month high of $31.32. The firm has a market capitalization of $2.78 billion, a P/E ratio of -29.40 and a beta of 2.57.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.14) 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 firm had revenue of $363.96 million during the quarter, compared to the consensus estimate of $403.93 million. During the same quarter last year, the business posted ($0.21) earnings per share. Fluence Energy’s revenue was up 17.2% compared to the same quarter last year. Sell-side analysts predict that Fluence Energy, Inc. will post 0.14 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Raymond James upgraded shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Wednesday, April 3rd. Bank of America raised their price objective on shares of Fluence Energy from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. BMO Capital Markets upgraded shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a report on Tuesday, January 16th. The Goldman Sachs Group decreased 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. Finally, Susquehanna upgraded shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price objective for the company in a report on Monday, February 26th. One 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. According to data from MarketBeat, the company currently 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.