Fluence Energy, Inc. (NASDAQ:FLNC) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) by 30.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,409,477 shares of the company's stock after selling 1,966,547 shares during the quarter. Handelsbanken Fonder AB owned 2.43% of Fluence Energy worth $70,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. New York State Common Retirement Fund increased its position in shares of Fluence Energy by 14.5% during the fourth quarter. New York State Common Retirement Fund now owns 18,995 shares of the company's stock worth $302,000 after acquiring an additional 2,400 shares during the period. Mezzasalma Advisors LLC purchased a new position in Fluence Energy in the fourth quarter valued at $221,000. Cidel Asset Management Inc. purchased a new position in Fluence Energy in the fourth quarter valued at $350,000. Canal Insurance CO increased its holdings in Fluence Energy by 15.0% in the fourth quarter. Canal Insurance CO now owns 300,000 shares of the company's stock valued at $4,764,000 after buying an additional 39,200 shares during the last quarter. Finally, KBC Group NV increased its holdings in Fluence Energy by 1.6% in the fourth quarter. KBC Group NV now owns 108,296 shares of the company's stock valued at $1,720,000 after buying an additional 1,671 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company's stock.

Fluence Energy Stock Performance

FLNC traded down $0.42 during trading on Friday, reaching $6.94. The company's stock had a trading volume of 7,610,429 shares, compared to its average volume of 6,625,824. Fluence Energy, Inc. has a 52-week low of $6.05 and a 52-week high of $26.12. The company's fifty day moving average price is $13.58 and its 200-day moving average price is $17.63. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -138.80 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 - Get Free Report) last announced its quarterly earnings results 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 return on equity of 0.36% and a negative net margin of 0.08%. On average, equities analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at Fluence Energy

In related news, CFO Ahmed Pasha acquired 15,500 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $6.48 per share, for a total transaction of $100,440.00. Following the transaction, the chief financial officer now directly owns 24,703 shares of the company's stock, valued at approximately $160,075.44. This trade represents a 168.42 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Herman E. Bulls acquired 10,000 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the transaction, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 79,000 shares of company stock valued at $601,265 in the last quarter. 0.65% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on FLNC shares. Susquehanna dropped their target price on Fluence Energy from $23.00 to $10.00 and set a "positive" rating on the stock in a report on Wednesday, February 12th. UBS Group downgraded shares of Fluence Energy from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $28.00 to $8.00 in a research note on Wednesday, February 12th. Bank of America cut Fluence Energy from a "buy" rating to a "neutral" rating and cut their target price for the stock from $20.00 to $8.00 in a research report on Thursday, February 13th. Piper Sandler cut their target price on Fluence Energy from $20.00 to $10.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group cut Fluence Energy from a "buy" rating to a "hold" rating and cut their target price for the stock from $22.00 to $15.00 in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average 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.