Fluence Energy, Inc. (NASDAQ:FLNC) Stock Holdings Decreased by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 87.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 17,222 shares of the company’s stock after selling 122,204 shares during the period. Federated Hermes Inc.’s holdings in Fluence Energy were worth $411,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Flputnam Investment Management Co. grew its holdings in shares of Fluence Energy by 111.1% during the 4th quarter. Flputnam Investment Management Co. now owns 18,890 shares of the company’s stock valued at $451,000 after acquiring an additional 9,941 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Fluence Energy by 43.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 909,841 shares of the company’s stock valued at $22,364,000 after buying an additional 275,489 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Fluence Energy in the 4th quarter valued at approximately $270,000. Arizona State Retirement System increased its holdings in Fluence Energy by 50.6% in the fourth quarter. Arizona State Retirement System now owns 17,547 shares of the company’s stock worth $418,000 after buying an additional 5,895 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Fluence Energy by 6.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 13,648 shares of the company’s stock valued at $326,000 after acquiring an additional 849 shares in the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Stock Up 7.2 %

NASDAQ:FLNC opened at $20.90 on Friday. The firm has a market cap of $3.73 billion, a PE ratio of -39.43 and a beta of 2.48. Fluence Energy, Inc. has a 12 month low of $13.03 and a 12 month high of $31.32. The company’s 50-day moving average price is $16.08 and its two-hundred day moving average price is $19.11.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Wednesday, February 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. The business had revenue of $363.96 million for the quarter, compared to the consensus estimate of $403.93 million. During the same quarter last year, the company earned ($0.21) earnings per share. The firm’s revenue was up 17.2% on a year-over-year basis. On average, research analysts expect that Fluence Energy, Inc. will post 0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Susquehanna raised shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price for the company in a research report on Monday, February 26th. BMO Capital Markets upgraded Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 target price for the company in a report on Tuesday, January 16th. JPMorgan Chase & Co. upgraded Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price target on the stock in a report on Friday, February 23rd. Raymond James raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.56.

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.