Handelsbanken Fonder AB Sells 1,966,547 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Handelsbanken Fonder AB decreased its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 30.8% in the 4th quarter, Holdings Channel reports. The firm owned 4,409,477 shares of the company’s stock after selling 1,966,547 shares during the quarter. Handelsbanken Fonder AB’s holdings in Fluence Energy were worth $70,022,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FLNC. Sanders Morris Harris LLC bought a new stake in Fluence Energy during the fourth quarter valued at $812,000. Cidel Asset Management Inc. bought a new stake in shares of Fluence Energy during the 4th quarter valued at about $350,000. SG Americas Securities LLC grew its stake in Fluence Energy by 79.2% during the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock worth $776,000 after purchasing an additional 21,597 shares during the period. FMR LLC increased its holdings in Fluence Energy by 9.0% in the third 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. Finally, Principal Financial Group Inc. acquired a new position in Fluence Energy in the third quarter valued at approximately $5,742,000. 53.16% of the stock is owned by institutional investors.

Fluence Energy Stock Performance

Shares of FLNC stock opened at $6.85 on Thursday. Fluence Energy, Inc. has a 52 week low of $6.05 and a 52 week high of $26.12. The firm’s 50-day simple moving average is $13.98 and its two-hundred day simple moving average is $17.75. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -137.00 and a beta of 2.37. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. As a group, equities 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 the stock in a transaction on Friday, February 14th. The shares were acquired at an average price of $6.48 per share, with a total value of $100,440.00. Following the acquisition, the chief financial officer now directly owns 24,703 shares of the company’s stock, valued at $160,075.44. The trade was a 168.42 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the transaction, the director now owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 79,000 shares of company stock worth $601,265. 0.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on FLNC. Roth Mkm downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $20.00 to $6.50 in a research report on Wednesday, February 12th. Truist Financial decreased their price target on shares of Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Royal Bank of Canada cut shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $25.00 to $7.00 in a research report on Wednesday, February 12th. Citigroup decreased their target price on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Finally, Wolfe Research cut Fluence Energy from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.64.

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.