Fluence Energy, Inc. (NASDAQ:FLNC) Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Fluence Energy, Inc. (NASDAQ:FLNC) by 5.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 507,100 shares of the company’s stock after buying an additional 25,441 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.28% of Fluence Energy worth $8,793,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FLNC. Handelsbanken Fonder AB increased its stake in shares of Fluence Energy by 145.5% in the fourth quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock valued at $68,689,000 after buying an additional 1,706,808 shares in the last quarter. Vanguard Group Inc. grew its holdings in Fluence Energy by 41.0% in the 4th quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock valued at $131,685,000 after buying an additional 1,605,345 shares in the last quarter. Clean Energy Transition LLP acquired a new position in Fluence Energy in the 4th quarter valued at $32,124,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Fluence Energy by 21.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company’s stock valued at $75,086,000 after acquiring an additional 757,105 shares during the period. Finally, Norges Bank bought a new stake in shares of Fluence Energy during the 4th quarter worth $13,931,000. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Price Performance

Shares of NASDAQ FLNC traded up $0.17 on Thursday, hitting $15.75. The company’s stock had a trading volume of 1,311,431 shares, compared to its average volume of 2,445,971. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of -39.95 and a beta of 2.50. The stock has a 50 day moving average of $19.64 and a 200-day moving average of $18.45. Fluence Energy, Inc. has a 12-month low of $13.03 and a 12-month high of $30.19.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. The firm had revenue of $623.14 million during the quarter, compared to analyst estimates of $538.42 million. During the same quarter in the prior year, the business posted ($0.21) earnings per share. Fluence Energy’s revenue for the quarter was down 10.7% compared to the same quarter last year. Sell-side analysts expect that Fluence Energy, Inc. will post 0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley decreased their price target on Fluence Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. Roth Mkm reiterated a “buy” rating and issued a $27.00 price target (down from $31.00) on shares of Fluence Energy in a research report on Friday, May 10th. Royal Bank of Canada restated an “outperform” rating and set a $29.00 target price on shares of Fluence Energy in a research report on Friday, June 14th. Piper Sandler lowered their target price on Fluence Energy from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Evercore ISI lowered their price target on Fluence Energy from $59.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.11.

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.