Westwood Holdings Group Inc. Sells 76,426 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Westwood Holdings Group Inc. reduced its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 41.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 108,083 shares of the company’s stock after selling 76,426 shares during the period. Westwood Holdings Group Inc. owned 0.06% of Fluence Energy worth $1,874,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Fluence Energy from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Roth Mkm reiterated a “buy” rating and issued a $27.00 target price (down previously from $31.00) on shares of Fluence Energy in a research report on Friday, May 10th. Piper Sandler cut their price target on shares of Fluence Energy from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Guggenheim cut shares of Fluence Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, June 6th. Finally, Scotiabank upgraded shares of Fluence Energy to a “hold” rating in a research note on Friday, July 12th. One 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 stock. According to data from MarketBeat.com, Fluence Energy presently has an average rating of “Moderate Buy” and a consensus price target of $28.22.

Fluence Energy Price Performance

FLNC traded up $0.77 on Friday, reaching $16.37. 1,586,503 shares of the company’s stock were exchanged, compared to its average volume of 2,778,913. The stock has a market cap of $2.94 billion, a PE ratio of -41.97 and a beta of 2.50. Fluence Energy, Inc. has a twelve month low of $13.03 and a twelve month high of $30.19. The stock’s fifty day moving average price is $19.54 and its 200-day moving average price is $18.39.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). Fluence Energy had a negative return on equity of 8.48% and a negative net margin of 2.10%. The firm had revenue of $623.14 million for the quarter, compared to the consensus estimate of $538.42 million. During the same quarter last year, the business posted ($0.21) earnings per share. The firm’s revenue was down 10.7% compared to the same quarter last year. As a group, research analysts predict that Fluence Energy, Inc. will post 0.09 earnings per share for the current fiscal year.

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.