Comerica Bank Sells 2,249 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Comerica Bank trimmed its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 28.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,787 shares of the company’s stock after selling 2,249 shares during the period. Comerica Bank’s holdings in Fluence Energy were worth $92,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of FLNC. Barclays PLC raised its position in shares of Fluence Energy by 296.8% in the third quarter. Barclays PLC now owns 181,766 shares of the company’s stock worth $4,127,000 after buying an additional 135,957 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Fluence Energy in the fourth quarter worth about $79,000. Mandatum Life Insurance Co Ltd bought a new stake in shares of Fluence Energy in the fourth quarter worth about $2,617,000. SG Americas Securities LLC boosted its position in Fluence Energy by 79.2% during the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock valued at $776,000 after acquiring an additional 21,597 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in Fluence Energy during the 4th quarter valued at approximately $340,000. 53.16% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Herman E. Bulls purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $5.41 per share, with a total value of $54,100.00. Following the purchase, the director now directly owns 115,861 shares of the company’s stock, valued at approximately $626,808.01. This trade represents a 9.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cynthia A. Arnold bought 33,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the completion of the transaction, the director now directly owns 86,202 shares of the company’s stock, valued at approximately $508,591.80. The trade was a 62.03% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.65% of the company’s stock.

Fluence Energy Trading Up 0.7%

Shares of Fluence Energy stock opened at $5.41 on Monday. The company has a fifty day simple moving average of $4.60 and a 200-day simple moving average of $11.08. Fluence Energy, Inc. has a 12-month low of $3.46 and a 12-month high of $26.12. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The stock has a market cap of $982.18 million, a price-to-earnings ratio of -108.20 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The firm had revenue of $431.62 million for the quarter, compared to analysts’ expectations of $328.17 million. Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. The firm’s quarterly revenue was down 30.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) EPS. On average, equities analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. BMO Capital Markets lowered shares of Fluence Energy from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $22.00 to $10.00 in a report on Tuesday, February 11th. Hsbc Global Res lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 28th. JPMorgan Chase & Co. downgraded shares of Fluence Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $14.00 to $7.00 in a research report on Friday, April 11th. Piper Sandler dropped their target price on shares of Fluence Energy from $10.00 to $4.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Finally, Wolfe Research downgraded shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $8.17.

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.