DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Sells 74,589 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lessened its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 71.7% during the 4th quarter, Holdings Channel reports. The fund owned 29,411 shares of the company’s stock after selling 74,589 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Fluence Energy were worth $467,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Webs Creek Capital Management LP purchased a new stake in shares of Fluence Energy during the 4th quarter worth $15,118,000. Covalis Capital LLP purchased a new stake in shares of Fluence Energy during the fourth quarter valued at about $12,113,000. Trexquant Investment LP boosted its holdings in shares of Fluence Energy by 577.5% in the 4th quarter. Trexquant Investment LP now owns 876,463 shares of the company’s stock valued at $13,918,000 after buying an additional 747,103 shares in the last quarter. Ardsley Advisory Partners LP grew its position in shares of Fluence Energy by 5,050.0% in the 4th quarter. Ardsley Advisory Partners LP now owns 515,000 shares of the company’s stock worth $8,178,000 after buying an additional 505,000 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Fluence Energy by 19.1% in the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock valued at $29,367,000 after acquiring an additional 296,325 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Price Performance

Shares of FLNC opened at $4.59 on Monday. The business’s 50-day moving average is $4.59 and its two-hundred day moving average is $11.62. The company has a market capitalization of $833.31 million, a P/E ratio of -91.80 and a beta of 2.49. Fluence Energy, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $26.12. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. The company had revenue of $431.62 million for the quarter, compared to analyst estimates of $328.17 million. During the same period last year, the business earned ($0.07) earnings per share. The firm’s revenue was down 30.7% on a year-over-year basis. Research analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Transactions at Fluence Energy

In other news, CEO Julian Nebreda acquired 23,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $6.35 per share, for a total transaction of $149,225.00. Following the completion of the transaction, the chief executive officer now owns 120,455 shares in the company, valued at approximately $764,889.25. The trade was a 24.24% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $5.41 per share, with a total value of $54,100.00. Following the acquisition, the director now directly owns 115,861 shares in the company, valued at $626,808.01. This trade represents a 9.45% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 79,000 shares of company stock valued at $499,665 in the last 90 days. 0.65% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Piper Sandler decreased their price objective on Fluence Energy from $10.00 to $4.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Jefferies Financial Group downgraded Fluence Energy from a “buy” rating to a “hold” rating and lowered their price target for the stock from $22.00 to $15.00 in a report on Wednesday, January 22nd. Canaccord Genuity Group cut their price objective on shares of Fluence Energy from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Susquehanna decreased their price objective on shares of Fluence Energy from $10.00 to $8.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. downgraded shares of Fluence Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $14.00 to $7.00 in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.41.

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.