Dragoneer Investment Group LLC Purchases New Stake in Fluence Energy, Inc. $FLNC

Dragoneer Investment Group LLC acquired a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,100,265 shares of the company’s stock, valued at approximately $65,883,000. Fluence Energy comprises approximately 1.5% of Dragoneer Investment Group LLC’s holdings, making the stock its 16th largest holding. Dragoneer Investment Group LLC owned 3.34% of Fluence Energy at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in shares of Fluence Energy by 1,441.8% in the 1st quarter. AQR Capital Management LLC now owns 900,674 shares of the company’s stock worth $4,368,000 after acquiring an additional 842,257 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Fluence Energy during the 1st quarter valued at about $109,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Fluence Energy by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,559 shares of the company’s stock valued at $575,000 after purchasing an additional 3,364 shares during the period. Goldman Sachs Group Inc. increased its position in Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock worth $15,380,000 after purchasing an additional 2,076,668 shares during the last quarter. Finally, Strs Ohio purchased a new position in Fluence Energy during the first quarter worth about $93,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Fluence Energy Stock Down 0.2%

NASDAQ:FLNC opened at $16.38 on Friday. Fluence Energy, Inc. has a 52 week low of $3.46 and a 52 week high of $33.51. The stock’s fifty day moving average is $21.24 and its two-hundred day moving average is $17.90. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of -37.23 and a beta of 2.99. The company has a quick ratio of 1.08, a current ratio of 1.48 and a debt-to-equity ratio of 0.80.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Wednesday, February 4th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.16). Fluence Energy had a negative net margin of 2.04% and a negative return on equity of 10.10%. The firm had revenue of $475.23 million during the quarter, compared to analyst estimates of $444.23 million. During the same period in the previous year, the firm posted ($0.32) earnings per share. The company’s quarterly revenue was up 154.4% compared to the same quarter last year. Research analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FLNC. Morgan Stanley set a $16.00 target price on shares of Fluence Energy in a report on Monday, January 26th. UBS Group reaffirmed a “neutral” rating on shares of Fluence Energy in a research report on Thursday, January 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Fluence Energy in a research report on Monday, December 29th. Bank of America set a $32.00 target price on Fluence Energy in a research note on Tuesday, February 3rd. Finally, Jefferies Financial Group set a $24.00 target price on Fluence Energy in a research report on Monday, February 9th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $16.25.

Fluence Energy Company Profile

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.