Vontobel Holding Ltd. Cuts Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Vontobel Holding Ltd. trimmed its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 13.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 88,421 shares of the company’s stock after selling 13,788 shares during the quarter. Vontobel Holding Ltd.’s holdings in Fluence Energy were worth $2,109,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. National Bank of Canada FI purchased a new position in shares of Fluence Energy in the 3rd quarter worth about $27,000. Point72 Hong Kong Ltd purchased a new position in shares of Fluence Energy in the 2nd quarter worth about $39,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Fluence Energy by 185.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock worth $49,000 after purchasing an additional 1,388 shares during the period. Quarry LP raised its holdings in shares of Fluence Energy by 342.2% in the 1st quarter. Quarry LP now owns 2,401 shares of the company’s stock worth $49,000 after purchasing an additional 1,858 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Fluence Energy by 107.9% in the 2nd quarter. Legal & General Group Plc now owns 5,940 shares of the company’s stock worth $56,000 after purchasing an additional 3,083 shares during the period. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Susquehanna upgraded Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price on the stock in a report on Monday, February 26th. The Goldman Sachs Group dropped their target price on Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. 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 report on Tuesday, January 16th. Bank of America raised their target price on Fluence Energy from $26.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Finally, JPMorgan Chase & Co. upgraded Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 target price on the stock in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.56.

Fluence Energy Trading Down 2.5 %

Shares of FLNC opened at $15.58 on Friday. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -29.40 and a beta of 2.57. The stock has a 50 day moving average of $16.55 and a 200-day moving average of $19.45. Fluence Energy, Inc. has a 52 week low of $13.03 and a 52 week high of $31.32.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Wednesday, February 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $363.96 million during the quarter, compared to analyst estimates of $403.93 million. Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. Fluence Energy’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.21) EPS. On average, sell-side analysts predict that Fluence Energy, Inc. will post 0.14 earnings per share for the current fiscal year.

About Fluence Energy

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.