Skandinaviska Enskilda Banken AB publ Has $2.39 Million Stock Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Skandinaviska Enskilda Banken AB publ lowered its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 30.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 145,672 shares of the company’s stock after selling 63,224 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.08% of Fluence Energy worth $2,393,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FLNC. Erste Asset Management GmbH acquired a new stake in Fluence Energy in the third quarter valued at approximately $22,059,000. Point72 Asset Management L.P. acquired a new stake in Fluence Energy in the third quarter valued at approximately $21,809,000. Principal Financial Group Inc. acquired a new stake in Fluence Energy in the third quarter valued at approximately $5,742,000. Zimmer Partners LP acquired a new stake in Fluence Energy in the third quarter valued at approximately $5,678,000. Finally, JPMorgan Chase & Co. grew its stake in Fluence Energy by 73.7% in the third quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock valued at $12,177,000 after acquiring an additional 227,549 shares during the period. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Stock Performance

Shares of FLNC opened at $5.13 on Monday. The firm has a market cap of $931.35 million, a PE ratio of -102.60 and a beta of 2.49. The stock’s fifty day moving average price is $10.39 and its two-hundred day moving average price is $16.41. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. Fluence Energy, Inc. has a 1 year low of $4.79 and a 1 year high of $26.12.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share 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%. On average, equities research analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on FLNC. Roth Mkm cut Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $6.50 in a research note on Wednesday, February 12th. BMO Capital Markets lowered Fluence Energy from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $22.00 to $10.00 in a report on Tuesday, February 11th. Roth Capital lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Bank of America lowered Fluence Energy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $20.00 to $8.00 in a report on Thursday, February 13th. Finally, Mizuho assumed coverage on Fluence Energy in a report on Wednesday, March 5th. They issued an “outperform” rating and a $8.00 target price on the stock. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Fluence Energy currently has a consensus rating of “Hold” and a consensus price target of $14.34.

Insider Activity

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of Fluence Energy stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the transaction, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ahmed Pasha bought 15,500 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was acquired at an average price of $6.48 per share, for a total transaction of $100,440.00. Following the completion of the purchase, the chief financial officer now directly owns 24,703 shares in the company, valued at approximately $160,075.44. The trade was a 168.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 89,000 shares of company stock worth $655,365. 0.65% of the stock is owned by corporate insiders.

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.