Fluence Energy, Inc. (NASDAQ:FLNC) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its position in Fluence Energy, Inc. (NASDAQ:FLNCFree Report) by 41.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,521,379 shares of the company’s stock after buying an additional 1,605,345 shares during the quarter. Vanguard Group Inc. owned about 3.09% of Fluence Energy worth $131,685,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FLNC. Handelsbanken Fonder AB raised its position in shares of Fluence Energy by 145.5% during the fourth quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock worth $68,689,000 after purchasing an additional 1,706,808 shares during the period. Clean Energy Transition LLP acquired a new stake in shares of Fluence Energy during the fourth quarter worth $32,124,000. Norges Bank acquired a new stake in shares of Fluence Energy during the fourth quarter worth $13,931,000. Ghisallo Capital Management LLC acquired a new stake in shares of Fluence Energy during the fourth quarter worth $11,925,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Fluence Energy by 43.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 909,841 shares of the company’s stock worth $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.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FLNC shares. Roth Mkm reaffirmed a “buy” rating and set a $27.00 target price (down from $31.00) on shares of Fluence Energy in a research report on Friday, May 10th. Piper Sandler dropped their price target on Fluence Energy from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Morgan Stanley dropped their price target on Fluence Energy from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Raymond James raised Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Wednesday, April 3rd. Finally, Guggenheim lowered Fluence Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.56.

Get Our Latest Stock Analysis on Fluence Energy

Fluence Energy Price Performance

Shares of FLNC stock opened at $16.59 on Friday. Fluence Energy, Inc. has a fifty-two week low of $13.03 and a fifty-two week high of $31.32. The stock’s 50-day moving average is $20.17 and its two-hundred day moving average is $19.14. The firm has a market cap of $2.98 billion, a P/E ratio of -42.54 and a beta of 2.50.

Fluence Energy (NASDAQ:FLNCGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). The company had revenue of $623.14 million during the quarter, compared to the consensus estimate of $538.42 million. Fluence Energy had a negative return on equity of 8.48% and a negative net margin of 2.10%. The firm’s revenue was down 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.21) EPS. As a group, research analysts expect that Fluence Energy, Inc. will post 0.11 EPS for the current year.

About Fluence Energy

(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

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

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