Skandinaviska Enskilda Banken AB publ Trims Holdings in Fluence Energy, Inc. $FLNC

Skandinaviska Enskilda Banken AB publ trimmed its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 44.1% during the third quarter, HoldingsChannel.com reports. The firm owned 52,232 shares of the company’s stock after selling 41,158 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Fluence Energy were worth $564,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in FLNC. Andar Capital Management HK Ltd bought a new position in Fluence Energy in the 3rd quarter worth about $2,160,000. Stratos Wealth Partners LTD. lifted its holdings in shares of Fluence Energy by 28.3% in the third quarter. Stratos Wealth Partners LTD. now owns 27,594 shares of the company’s stock worth $298,000 after buying an additional 6,084 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Fluence Energy in the third quarter valued at approximately $574,000. ProShare Advisors LLC boosted its position in shares of Fluence Energy by 55.4% in the third quarter. ProShare Advisors LLC now owns 36,652 shares of the company’s stock valued at $396,000 after acquiring an additional 13,063 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in Fluence Energy by 8.6% during the third quarter. Jones Financial Companies Lllp now owns 13,452 shares of the company’s stock valued at $160,000 after acquiring an additional 1,063 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on FLNC. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $12.00 target price on shares of Fluence Energy in a research note on Tuesday, January 20th. Johnson Rice reaffirmed a “hold” rating and issued a $18.00 price target on shares of Fluence Energy in a report on Monday, December 8th. Jefferies Financial Group set a $24.00 price objective on Fluence Energy in a research report on Monday, February 9th. Wall Street Zen upgraded Fluence Energy from a “sell” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Fluence Energy in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.25.

Fluence Energy Stock Down 0.1%

Shares of NASDAQ:FLNC opened at $16.55 on Friday. Fluence Energy, Inc. has a 52-week low of $3.46 and a 52-week high of $33.51. The firm has a fifty day moving average of $22.51 and a 200 day moving average of $17.06. The firm has a market capitalization of $3.04 billion, a PE ratio of -37.61 and a beta of 2.90. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.08 and a current ratio of 1.48.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Wednesday, February 4th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.16). Fluence Energy had a negative net margin of 2.04% and a negative return on equity of 10.10%. The firm had revenue of $475.23 million for the quarter, compared to analysts’ expectations of $444.23 million. During the same quarter in the previous year, the business earned ($0.32) EPS. The company’s revenue for the quarter was up 154.4% on a year-over-year basis. As a group, research analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Fluence Energy Company Profile

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.