Fluence Energy, Inc. (NASDAQ:FLNC) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 15.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,663 shares of the company’s stock after selling 1,445 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fluence Energy were worth $183,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in FLNC. FMR LLC increased its holdings in Fluence Energy by 146.9% in the third quarter. FMR LLC now owns 3,959,313 shares of the company’s stock valued at $91,025,000 after buying an additional 2,355,849 shares in the last quarter. Schroder Investment Management Group increased its holdings in Fluence Energy by 65.2% in the third quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company’s stock valued at $61,950,000 after buying an additional 1,063,609 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Fluence Energy by 43.4% in the fourth 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 in the last quarter. Wellington Management Group LLP purchased a new position in Fluence Energy in the third quarter valued at about $5,916,000. Finally, Hussman Strategic Advisors Inc. purchased a new position in Fluence Energy in the third quarter valued at about $3,621,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Fluence Energy from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. The Goldman Sachs Group dropped their price objective on shares of Fluence Energy from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. JPMorgan Chase & Co. raised shares of Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price objective for the company in a research note on Friday, February 23rd. Susquehanna raised shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price objective for the company in a research note on Monday, February 26th. Finally, 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 research note on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Fluence Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.56.

Fluence Energy Stock Down 1.6 %

Shares of FLNC opened at $20.82 on Wednesday. The firm has a market cap of $3.72 billion, a PE ratio of -39.28 and a beta of 2.48. The company’s fifty day moving average is $16.31 and its two-hundred day moving average is $19.14. Fluence Energy, Inc. has a fifty-two week low of $13.03 and a fifty-two week high of $31.32.

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

About Fluence Energy

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.