Fluence Energy (NASDAQ:FLNC) Major Shareholder Qatar Investment Authority Sells 2,867,172 Shares

Fluence Energy, Inc. (NASDAQ:FLNC) major shareholder Qatar Investment Authority sold 2,867,172 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $21.00, for a total transaction of $60,210,612.00. Following the completion of the sale, the insider directly owned 11,801,103 shares of the company’s stock, valued at approximately $247,823,163. This trade represents a 19.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Fluence Energy Stock Down 4.4%

Shares of NASDAQ:FLNC traded down $0.91 during trading hours on Monday, hitting $19.86. The company’s stock had a trading volume of 4,972,341 shares, compared to its average volume of 6,819,162. The firm’s fifty day moving average price is $15.42 and its 200 day moving average price is $19.00. Fluence Energy, Inc. has a 52 week low of $4.40 and a 52 week high of $33.51. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of -54.85 and a beta of 2.62. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 0.91.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. The company had revenue of $464.89 million during the quarter, compared to the consensus estimate of $614.93 million. Fluence Energy had a negative net margin of 1.62% and a negative return on equity of 8.29%. Fluence Energy’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. As a group, research analysts expect that Fluence Energy, Inc. will post -0.22 EPS for the current year.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently made changes to their positions in FLNC. Empowered Funds LLC acquired a new stake in Fluence Energy during the 1st quarter worth about $2,454,000. The Manufacturers Life Insurance Company lifted its stake in Fluence Energy by 12.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 33,857 shares of the company’s stock valued at $466,000 after acquiring an additional 3,731 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Fluence Energy by 11.7% in the 1st quarter. Quantinno Capital Management LP now owns 28,391 shares of the company’s stock valued at $391,000 after acquiring an additional 2,984 shares during the last quarter. Gateway Wealth Partners LLC purchased a new stake in shares of Fluence Energy in the 1st quarter valued at $211,000. Finally, Entropy Technologies LP acquired a new stake in shares of Fluence Energy in the first quarter worth $608,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FLNC has been the topic of a number of analyst reports. Jefferies Financial Group set a $24.00 price objective on shares of Fluence Energy in a research report on Monday, February 9th. Susquehanna raised their target price on shares of Fluence Energy from $23.00 to $25.00 and gave the company a “positive” rating in a research note on Friday, May 8th. Bank of America set a $32.00 price target on shares of Fluence Energy in a report on Tuesday, February 3rd. Needham & Company LLC assumed coverage on Fluence Energy in a report on Friday, March 20th. They set a “hold” rating for the company. Finally, Royal Bank Of Canada boosted their target price on Fluence Energy from $12.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Monday, May 11th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.47.

About Fluence Energy

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.