Fluence Energy, Inc. $FLNC Shares Sold by Canal Insurance CO

Canal Insurance CO decreased its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 34.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 380,000 shares of the company’s stock after selling 200,000 shares during the quarter. Canal Insurance CO owned 0.21% of Fluence Energy worth $4,104,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock worth $15,380,000 after purchasing an additional 2,076,668 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Fluence Energy by 1,794.8% during the second quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company’s stock worth $12,539,000 after purchasing an additional 1,770,090 shares during the period. AQR Capital Management LLC lifted its position in shares of Fluence Energy by 1,441.8% in the 1st quarter. AQR Capital Management LLC now owns 900,674 shares of the company’s stock worth $4,368,000 after buying an additional 842,257 shares during the last quarter. Alpha Wave Global LP acquired a new position in shares of Fluence Energy in the 2nd quarter valued at about $4,395,000. Finally, Caxton Associates LLP bought a new stake in shares of Fluence Energy during the 2nd quarter valued at about $3,561,000. 53.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. BNP Paribas Exane reissued an “underperform” rating and issued a $9.00 target price on shares of Fluence Energy in a report on Tuesday, October 21st. Susquehanna raised their price target on Fluence Energy from $17.00 to $20.00 and gave the stock a “positive” rating in a report on Wednesday, November 26th. BNP Paribas set a $9.00 price objective on Fluence Energy and gave the stock an “underperform” rating in a research note on Tuesday, October 21st. Royal Bank Of Canada increased their target price on Fluence Energy from $9.00 to $10.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 26th. Finally, Johnson Rice reissued a “hold” rating and set a $18.00 price target on shares of Fluence Energy in a report on Monday, December 8th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $13.54.

Fluence Energy Trading Up 2.3%

Shares of NASDAQ:FLNC opened at $23.82 on Wednesday. The company has a 50 day moving average of $20.27 and a 200-day moving average of $14.09. The company has a current ratio of 1.51, a quick ratio of 1.17 and a debt-to-equity ratio of 0.71. The firm has a market cap of $4.36 billion, a P/E ratio of -56.71 and a beta of 2.88. Fluence Energy, Inc. has a twelve month low of $3.46 and a twelve month high of $25.85.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Monday, November 24th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.39 billion. Fluence Energy had a negative return on equity of 9.21% and a negative net margin of 2.14%.The business’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share. As a group, analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

About Fluence Energy

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.