Insider Selling: Fluence Energy (NASDAQ:FLNC) Major Shareholder Sells $60,210,612.00 in Stock

Fluence Energy, Inc. (NASDAQ:FLNCGet Free Report) major shareholder Qatar Investment Authority sold 2,867,172 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were 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 owned 11,801,103 shares of the company’s stock, valued at approximately $247,823,163. This represents a 19.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Fluence Energy Trading Up 5.8%

NASDAQ FLNC opened at $18.94 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. The firm has a market cap of $3.49 billion, a PE ratio of -52.61 and a beta of 2.62. The company has a 50 day moving average price of $15.62 and a 200 day moving average price of $18.98. Fluence Energy, Inc. has a 52 week low of $4.40 and a 52 week high of $33.51.

Fluence Energy (NASDAQ:FLNCGet Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. The company had revenue of $464.89 million for 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 was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.24) EPS. As a group, sell-side analysts forecast that Fluence Energy, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FLNC. Mirae Asset Global Investments Co. Ltd. purchased a new position in Fluence Energy in the 3rd quarter valued at $810,000. ANTIPODES PARTNERS Ltd grew its position in Fluence Energy by 64,545.5% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 1,091,216 shares of the company’s stock valued at $11,786,000 after buying an additional 1,089,528 shares during the last quarter. Essex Investment Management Co. LLC purchased a new position in Fluence Energy in the 3rd quarter valued at $574,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Fluence Energy by 50.9% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 301,838 shares of the company’s stock valued at $3,260,000 after buying an additional 101,838 shares during the last quarter. Finally, Dragoneer Investment Group LLC purchased a new position in Fluence Energy in the 3rd quarter valued at $65,883,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FLNC. Jefferies Financial Group set a $24.00 price target on shares of Fluence Energy in a report on Monday, February 9th. Canaccord Genuity Group set a $28.00 price objective on shares of Fluence Energy in a research report on Friday, May 8th. Bank of America set a $32.00 price objective on shares of Fluence Energy in a research report on Tuesday, February 3rd. Barclays reduced their price objective on shares of Fluence Energy from $20.00 to $16.00 and set an “equal weight” rating for the company in a research report on Monday, April 13th. Finally, Royal Bank Of Canada upped their price objective on shares of Fluence Energy from $12.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.47.

Get Our Latest Stock Analysis on Fluence Energy

About Fluence Energy

(Get Free Report)

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.

See Also

Receive News & Ratings for Fluence Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fluence Energy and related companies with MarketBeat.com's FREE daily email newsletter.