Amundi Cuts Stock Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Amundi reduced its stake in Fluence Energy, Inc. (NASDAQ:FLNC) by 14.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 994,239 shares of the company’s stock after selling 170,182 shares during the quarter. Amundi’s holdings in Fluence Energy were worth $15,915,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FLNC. FMR LLC grew its position in Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after purchasing an additional 132,868 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Fluence Energy by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after acquiring an additional 60,633 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Fluence Energy in the 3rd quarter worth about $22,059,000. Point72 Asset Management L.P. bought a new position in shares of Fluence Energy during the 3rd quarter valued at approximately $21,809,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Fluence Energy by 73.7% in the 3rd 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 during the period. 53.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FLNC. Citigroup dropped their price target on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. The Goldman Sachs Group reduced their target price on shares of Fluence Energy from $26.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Roth Capital lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 price objective (down from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Finally, Jefferies Financial Group cut shares of Fluence Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from $22.00 to $15.00 in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.34.

Fluence Energy Price Performance

Shares of Fluence Energy stock opened at $5.22 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. The business has a 50 day moving average of $10.64 and a 200 day moving average of $16.53. The company has a market cap of $947.69 million, a PE ratio of -104.40 and a beta of 2.50. Fluence Energy, Inc. has a 52 week low of $4.79 and a 52 week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. As a group, equities research analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Transactions at Fluence Energy

In other Fluence Energy news, CFO Ahmed Pasha bought 15,500 shares of Fluence Energy stock in a transaction dated Friday, February 14th. The shares were purchased at an average cost of $6.48 per share, with a total value of $100,440.00. Following the transaction, the chief financial officer now directly owns 24,703 shares of the company’s stock, valued at $160,075.44. This represents a 168.42 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Herman E. Bulls purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $5.41 per share, with a total value of $54,100.00. Following the completion of the purchase, the director now owns 115,861 shares in the company, valued at $626,808.01. This represents a 9.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 89,000 shares of company stock valued at $655,365. Corporate insiders own 0.65% of the company’s stock.

Fluence Energy Company 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.