Fluence Energy, Inc. (NASDAQ:FLNC) Shares Sold by Tidal Investments LLC

Tidal Investments LLC decreased its position in Fluence Energy, Inc. (NASDAQ:FLNC) by 28.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,539 shares of the company’s stock after selling 17,735 shares during the quarter. Tidal Investments LLC’s holdings in Fluence Energy were worth $1,011,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLNC. PARK CIRCLE Co purchased a new stake in shares of Fluence Energy during the second quarter worth about $28,000. US Bancorp DE increased its holdings in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after purchasing an additional 1,475 shares during the last quarter. CWM LLC increased its holdings in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after purchasing an additional 1,767 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Fluence Energy during the 3rd quarter valued at approximately $74,000. Finally, Blue Trust Inc. purchased a new position in shares of Fluence Energy during the 2nd quarter valued at approximately $58,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Analyst Ratings Changes

FLNC has been the topic of a number of recent analyst reports. Bank of America cut their target price on shares of Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Canaccord Genuity Group cut their price objective on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Jefferies Financial Group began coverage on Fluence Energy in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 target price on the stock. Baird R W downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Finally, Susquehanna raised their price objective on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.65.

Fluence Energy Trading Down 6.7 %

Shares of NASDAQ:FLNC opened at $15.00 on Friday. The firm’s 50 day moving average is $19.77 and its two-hundred day moving average is $19.25. The firm has a market capitalization of $2.72 billion, a P/E ratio of 115.38, a PEG ratio of 0.54 and a beta of 2.39. Fluence Energy, Inc. has a 52 week low of $12.74 and a 52 week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The business’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 EPS. Analysts predict that Fluence Energy, Inc. will post 0.56 EPS for the current 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.