Vanguard Group Inc. Lowers Stake in Fluence Energy, Inc. $FLNC

Vanguard Group Inc. lowered its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 1.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,188,866 shares of the company’s stock after selling 63,454 shares during the period. Vanguard Group Inc. owned approximately 3.41% of Fluence Energy worth $30,016,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Millennium Management LLC boosted its position in shares of Fluence Energy by 257.2% during the 4th quarter. Millennium Management LLC now owns 720,828 shares of the company’s stock worth $11,447,000 after purchasing an additional 519,049 shares during the period. Raymond James Financial Inc. acquired a new stake in Fluence Energy during the 4th quarter worth approximately $1,221,000. Bryce Point Capital LLC acquired a new stake in Fluence Energy during the 1st quarter worth approximately $591,000. Janney Montgomery Scott LLC acquired a new stake in Fluence Energy during the 1st quarter worth approximately $403,000. Finally, Federated Hermes Inc. lifted its holdings in Fluence Energy by 2,409.2% during the 1st quarter. Federated Hermes Inc. now owns 541,168 shares of the company’s stock worth $2,625,000 after buying an additional 519,601 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FLNC shares. Jefferies Financial Group reiterated an “underperform” rating and set a $6.00 target price on shares of Fluence Energy in a report on Friday, July 11th. Barclays reduced their target price on shares of Fluence Energy from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 12th. HSBC lowered shares of Fluence Energy from a “hold” rating to a “reduce” rating and set a $5.00 target price on the stock. in a report on Wednesday, August 13th. The Goldman Sachs Group reduced their target price on shares of Fluence Energy from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, Royal Bank Of Canada reduced their target price on shares of Fluence Energy from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 13th. Four equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.08.

Fluence Energy Price Performance

Shares of NASDAQ:FLNC opened at $7.28 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.64 and a quick ratio of 1.06. The firm has a market capitalization of $1.33 billion, a P/E ratio of -34.67 and a beta of 2.67. Fluence Energy, Inc. has a 12 month low of $3.46 and a 12 month high of $24.00. The company’s fifty day moving average price is $7.92 and its 200 day moving average price is $6.08.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $602.53 million for the quarter, compared to analyst estimates of $738.52 million. Fluence Energy had a negative net margin of 0.76% and a negative return on equity of 3.42%. Fluence Energy’s quarterly revenue was up 24.7% on a year-over-year basis. Fluence Energy has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

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.