Fluence Energy, Inc. (NASDAQ:FLNC) Stock Holdings Increased by Swiss National Bank

Swiss National Bank boosted its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 37.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,900 shares of the company’s stock after purchasing an additional 33,900 shares during the period. Swiss National Bank owned approximately 0.07% of Fluence Energy worth $2,955,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its position in shares of Fluence Energy by 6.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 13,648 shares of the company’s stock valued at $326,000 after acquiring an additional 849 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Fluence Energy by 11.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 11,619 shares of the company’s stock valued at $267,000 after purchasing an additional 1,202 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Fluence Energy by 185.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock worth $49,000 after purchasing an additional 1,388 shares in the last quarter. Trium Capital LLP raised its holdings in Fluence Energy by 24.8% during the 3rd quarter. Trium Capital LLP now owns 9,710 shares of the company’s stock worth $223,000 after buying an additional 1,928 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in Fluence Energy by 8.6% during the third quarter. Advisors Asset Management Inc. now owns 24,701 shares of the company’s stock valued at $568,000 after buying an additional 1,957 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors.

Fluence Energy Price Performance

NASDAQ FLNC opened at $20.04 on Thursday. Fluence Energy, Inc. has a fifty-two week low of $13.03 and a fifty-two week high of $31.32. The stock’s 50-day moving average is $17.06 and its two-hundred day moving average is $19.18. The firm has a market cap of $3.58 billion, a P/E ratio of -51.38 and a beta of 2.48.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). The business had revenue of $623.14 million for the quarter, compared to the consensus estimate of $538.42 million. Fluence Energy had a negative return on equity of 8.48% and a negative net margin of 2.10%. The firm’s revenue was down 10.7% compared to the same quarter last year. During the same period last year, the business earned ($0.21) EPS. On average, equities analysts expect that Fluence Energy, Inc. will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

FLNC has been the topic of a number of recent analyst reports. Roth Mkm restated a “buy” rating and set a $27.00 price target (down previously from $31.00) on shares of Fluence Energy in a report on Friday, May 10th. Susquehanna raised Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price for the company in a research report on Monday, February 26th. Evercore ISI dropped their price target on Fluence Energy from $59.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. JPMorgan Chase & Co. upgraded Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price objective for the company in a research report on Friday, February 23rd. Finally, Raymond James upgraded Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.06.

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.