Tidal Investments LLC Decreases Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Tidal Investments LLC trimmed its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 28.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,539 shares of the company’s stock after selling 17,735 shares during the period. Tidal Investments LLC’s holdings in Fluence Energy were worth $1,011,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. purchased a new stake in Fluence Energy during the 2nd quarter valued at about $58,000. Bank of New York Mellon Corp boosted its stake in shares of Fluence Energy by 19.6% during the second quarter. Bank of New York Mellon Corp now owns 217,709 shares of the company’s stock valued at $3,775,000 after purchasing an additional 35,701 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Fluence Energy by 305.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 30,952 shares of the company’s stock worth $537,000 after purchasing an additional 23,319 shares during the last quarter. Lazard Freres Gestion S.A.S. purchased a new stake in Fluence Energy during the 2nd quarter valued at $26,877,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Fluence Energy by 1,355.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company’s stock worth $17,758,000 after acquiring an additional 953,761 shares during the last quarter. 53.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FLNC has been the topic of a number of recent analyst reports. Baird R W lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada cut their price target on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a report on Friday, November 8th. Guggenheim reaffirmed a “buy” rating and issued a $26.00 price target on shares of Fluence Energy in a research report on Friday, December 6th. Finally, 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 research report on Wednesday. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.65.

Fluence Energy Stock Down 6.7 %

FLNC opened at $15.00 on Friday. The firm has a market cap of $2.72 billion, a P/E ratio of 115.38, a PEG ratio of 0.54 and a beta of 2.39. The business’s fifty day simple moving average is $19.77 and its 200 day simple moving average is $19.25. Fluence Energy, Inc. has a 52 week low of $12.74 and a 52 week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The company’s quarterly revenue was up 82.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 earnings per share. As a group, equities analysts expect that Fluence Energy, Inc. will post 0.56 EPS for the current fiscal 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.