Federated Hermes Inc. Decreases Stock Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Federated Hermes Inc. reduced its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 87.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,222 shares of the company’s stock after selling 122,204 shares during the quarter. Federated Hermes Inc.’s holdings in Fluence Energy were worth $411,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Fluence Energy by 146.9% during the third quarter. FMR LLC now owns 3,959,313 shares of the company’s stock worth $91,025,000 after purchasing an additional 2,355,849 shares during the period. Vanguard Group Inc. grew its position in shares of Fluence Energy by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,916,034 shares of the company’s stock worth $90,030,000 after buying an additional 98,541 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Fluence Energy by 65.2% during the third quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company’s stock valued at $61,950,000 after buying an additional 1,063,609 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Fluence Energy by 3.7% during the third quarter. Clearbridge Investments LLC now owns 1,184,398 shares of the company’s stock valued at $27,229,000 after acquiring an additional 42,738 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in Fluence Energy by 43.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 909,841 shares of the company’s stock worth $22,364,000 after acquiring an additional 275,489 shares during the period. Institutional investors own 53.16% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. 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. Raymond James raised Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Wednesday, April 3rd. The Goldman Sachs Group dropped their price target on Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Piper Sandler lowered their price objective on Fluence Energy from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Finally, Susquehanna raised shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price on the stock in a research report on Monday, February 26th. One research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.56.

Fluence Energy Price Performance

Shares of NASDAQ:FLNC opened at $20.90 on Friday. Fluence Energy, Inc. has a 1 year low of $13.03 and a 1 year high of $31.32. The company has a market cap of $3.73 billion, a P/E ratio of -39.43 and a beta of 2.48. The stock’s fifty day moving average price is $16.08 and its 200-day moving average price is $19.11.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $403.93 million. During the same period in the previous year, the business earned ($0.21) EPS. The business’s revenue was up 17.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Fluence Energy, Inc. will post 0.14 earnings per share for the current year.

Fluence Energy Company 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.