Swiss National Bank Has $1 Million Stock Position in Fluence Energy, Inc. $FLNC

Swiss National Bank lifted its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 17.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 149,000 shares of the company’s stock after purchasing an additional 22,200 shares during the period. Swiss National Bank owned 0.08% of Fluence Energy worth $1,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings 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 buying an additional 2,076,668 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Fluence Energy by 1,794.8% in the 2nd quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company’s stock valued at $12,539,000 after acquiring an additional 1,770,090 shares during the period. AQR Capital Management LLC increased its stake in shares of Fluence Energy by 1,441.8% during the 1st quarter. AQR Capital Management LLC now owns 900,674 shares of the company’s stock worth $4,368,000 after purchasing an additional 842,257 shares during the last quarter. PDT Partners LLC raised its holdings in shares of Fluence Energy by 2,140.2% in the 1st quarter. PDT Partners LLC now owns 585,084 shares of the company’s stock valued at $2,838,000 after purchasing an additional 558,967 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Fluence Energy by 152.4% in the 1st quarter. Invesco Ltd. now owns 925,011 shares of the company’s stock valued at $4,486,000 after purchasing an additional 558,498 shares during the period. 53.16% of the stock is owned by institutional investors.

Fluence Energy Stock Performance

NASDAQ:FLNC opened at $22.86 on Tuesday. The stock has a 50 day simple moving average of $17.99 and a 200 day simple moving average of $11.13. The stock has a market cap of $4.18 billion, a P/E ratio of -54.43 and a beta of 2.88. Fluence Energy, Inc. has a 1-year low of $3.46 and a 1-year high of $24.79. The company has a current ratio of 1.51, a quick ratio of 1.17 and a debt-to-equity ratio of 0.71.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on FLNC. Bank of America boosted their price target on Fluence Energy from $11.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Roth Capital lifted their target price on Fluence Energy from $7.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Citigroup increased their price target on Fluence Energy from $7.50 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, December 3rd. Susquehanna raised their price target on Fluence Energy from $17.00 to $20.00 and gave the company a “positive” rating in a report on Wednesday, November 26th. Finally, Barclays upped their price objective on shares of Fluence Energy from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, November 25th. Four research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $12.93.

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.