Legal & General Group Plc Buys 663,660 Shares of Fluence Energy, Inc. $FLNC

Legal & General Group Plc increased its stake in Fluence Energy, Inc. (NASDAQ:FLNC) by 882.1% in the 4th quarter, Holdings Channel reports. The fund owned 738,898 shares of the company’s stock after buying an additional 663,660 shares during the quarter. Legal & General Group Plc’s holdings in Fluence Energy were worth $14,615,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. FourThought Financial Partners LLC purchased a new stake in Fluence Energy during the fourth quarter valued at about $559,000. Handelsbanken Fonder AB purchased a new position in shares of Fluence Energy in the 4th quarter worth about $16,964,000. Capstone Capital Management Ltd bought a new position in shares of Fluence Energy during the 4th quarter valued at about $247,000. Abacus Wealth Partners LLC bought a new position in shares of Fluence Energy during the 4th quarter valued at about $278,000. Finally, Pier Capital LLC raised its holdings in shares of Fluence Energy by 5.8% during the 4th quarter. Pier Capital LLC now owns 213,856 shares of the company’s stock valued at $4,230,000 after buying an additional 11,793 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Performance

Shares of NASDAQ:FLNC opened at $27.91 on Wednesday. The company has a 50-day moving average price of $16.45 and a 200-day moving average price of $19.04. The company has a market cap of $5.14 billion, a price-to-earnings ratio of -77.53 and a beta of 2.77. The company has a current ratio of 1.43, a quick ratio of 0.91 and a debt-to-equity ratio of 0.85. Fluence Energy, Inc. has a 12 month low of $4.40 and a 12 month high of $33.51.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. Fluence Energy had a negative return on equity of 8.29% and a negative net margin of 1.62%.The firm had revenue of $464.89 million for the quarter, compared to analyst estimates of $614.93 million. During the same period last year, the company earned ($0.24) EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that Fluence Energy, Inc. will post -0.22 EPS for the current year.

Analyst Upgrades and Downgrades

FLNC has been the subject of a number of recent research reports. Bank of America set a $32.00 target price on Fluence Energy in a research report on Tuesday, February 3rd. Mizuho set a $13.00 price target on shares of Fluence Energy in a research note on Friday, February 6th. HSBC upgraded shares of Fluence Energy from a “reduce” rating to a “hold” rating and set a $19.00 price objective for the company in a report on Friday, May 8th. Wall Street Zen cut shares of Fluence Energy from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Citigroup lifted their target price on shares of Fluence Energy from $15.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.47.

Insider Activity

In other news, major shareholder Qatar Investment Authority sold 2,867,172 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $21.00, for a total transaction of $60,210,612.00. Following the sale, the insider owned 11,801,103 shares in the company, valued at approximately $247,823,163. The trade was a 19.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Heynitz Harald Von sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $16.50, for a total transaction of $165,000.00. Following the sale, the director directly owned 63,550 shares in the company, valued at $1,048,575. The trade was a 13.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.69% of the company’s stock.

Fluence Energy 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.