Blue Trust Inc. Cuts Stock Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Blue Trust Inc. decreased its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 58.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the company’s stock after selling 2,821 shares during the period. Blue Trust Inc.’s holdings in Fluence Energy were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in FLNC. Erste Asset Management GmbH purchased a new position in Fluence Energy in the 3rd quarter valued at about $22,059,000. Point72 Asset Management L.P. acquired a new position in shares of Fluence Energy during the third quarter valued at approximately $21,809,000. Principal Financial Group Inc. purchased a new position in shares of Fluence Energy in the third quarter valued at approximately $5,742,000. Zimmer Partners LP acquired a new stake in shares of Fluence Energy in the third quarter worth approximately $5,678,000. Finally, JPMorgan Chase & Co. increased its position in shares of Fluence Energy by 73.7% during the third quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock worth $12,177,000 after purchasing an additional 227,549 shares in the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Stock Performance

Fluence Energy stock opened at $13.07 on Tuesday. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 100.54, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The company’s 50 day simple moving average is $15.58 and its 200-day simple moving average is $18.23. Fluence Energy, Inc. has a 1 year low of $11.89 and a 1 year high of $26.12.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. Equities analysts expect that Fluence Energy, Inc. will post 0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FLNC. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Bank of America lowered their price target on shares of Fluence Energy from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. BMO Capital Markets increased their price objective on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Baird R W cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada cut their price target on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.60.

Insider Buying and Selling

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the purchase, the director now directly owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is owned by corporate insiders.

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.