Skandinaviska Enskilda Banken AB publ Reduces Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Skandinaviska Enskilda Banken AB publ cut its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 30.3% in the 4th quarter, according to its most recent filing 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 quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Fluence Energy were worth $2,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of FLNC. US Bancorp DE lifted its holdings in Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares during the period. Point72 DIFC Ltd bought a new position in Fluence Energy during the 3rd quarter valued at approximately $74,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Fluence Energy during the 4th quarter valued at approximately $79,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fluence Energy in the 3rd quarter worth $87,000. Finally, Morse Asset Management Inc bought a new stake in shares of Fluence Energy in the 3rd quarter worth $175,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the completion of the acquisition, the director now directly owns 115,861 shares in the company, valued at approximately $626,808.01. This represents a 9.45 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Ahmed Pasha bought 15,500 shares of the stock in a transaction on Friday, February 14th. The shares were bought 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 owns 24,703 shares of the company’s stock, valued at $160,075.44. This trade represents a 168.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 89,000 shares of company stock worth $655,365 over the last 90 days. Company insiders own 0.65% of the company’s stock.

Fluence Energy Stock Down 1.7 %

Shares of NASDAQ FLNC opened at $5.13 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The firm has a market capitalization of $931.35 million, a price-to-earnings ratio of -102.60 and a beta of 2.49. The stock has a 50 day moving average price of $10.39 and a 200 day moving average price of $16.41. Fluence Energy, Inc. has a 52-week low of $4.79 and a 52-week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share 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%. Sell-side analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on FLNC shares. Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 price objective (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Citigroup lowered their price objective 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. Canaccord Genuity Group reduced their target price on Fluence Energy from $34.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Royal Bank of Canada cut Fluence Energy from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $25.00 to $7.00 in a report on Wednesday, February 12th. Finally, Roth Capital cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluence Energy presently has a consensus rating of “Hold” and a consensus price target of $14.34.

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.