Westwood Holdings Group Inc. Has $1.87 Million Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Westwood Holdings Group Inc. lessened its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 41.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 108,083 shares of the company’s stock after selling 76,426 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Fluence Energy were worth $1,874,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Fluence Energy by 11.9% in the 1st quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock valued at $107,130,000 after purchasing an additional 656,839 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Fluence Energy by 21.2% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company’s stock valued at $75,086,000 after acquiring an additional 757,105 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Fluence Energy by 145.5% in the fourth quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock valued at $68,689,000 after acquiring an additional 1,706,808 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Fluence Energy by 3.7% in the first quarter. Clearbridge Investments LLC now owns 1,476,914 shares of the company’s stock valued at $25,610,000 after acquiring an additional 52,744 shares during the last quarter. Finally, Clean Energy Transition LLP acquired a new stake in shares of Fluence Energy in the fourth quarter valued at about $32,124,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FLNC. Barclays lowered their target price on Fluence Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Piper Sandler lowered their target price on Fluence Energy from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 price target on shares of Fluence Energy in a report on Friday, June 14th. Truist Financial started coverage on Fluence Energy in a report on Wednesday, July 10th. They set a “buy” rating and a $25.00 price target for the company. Finally, Bank of America reduced their price target on Fluence Energy from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Fluence Energy has an average rating of “Moderate Buy” and an average price target of $27.76.

Fluence Energy Stock Performance

Shares of NASDAQ FLNC traded down $1.18 during midday trading on Friday, reaching $14.67. The company’s stock had a trading volume of 2,274,930 shares, compared to its average volume of 2,388,918. Fluence Energy, Inc. has a fifty-two week low of $13.03 and a fifty-two week high of $30.19. The business’s 50 day moving average price is $19.11 and its two-hundred day moving average price is $18.20. The company has a market cap of $2.63 billion, a P/E ratio of -37.61 and a beta of 2.50.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. The company had revenue of $623.14 million during the quarter, compared to the consensus estimate of $538.42 million. During the same period in the previous year, the business earned ($0.21) earnings per share. The firm’s quarterly revenue was down 10.7% on a year-over-year basis. Sell-side analysts forecast that Fluence Energy, Inc. will post 0.1 earnings per share for the current fiscal year.

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.