Key Points
- Qatar Investment Authority, a major shareholder of Fluence Energy, sold 2.87 million shares on May 15 at an average price of $21.00, generating about $60.2 million and cutting its stake by 19.55%.
- Fluence Energy shares were noted as down 5.9%, and the stock opened at $19.54 with a market cap of about $3.6 billion.
- The company’s latest earnings beat EPS expectations but missed revenue estimates: it reported -$0.16 EPS versus -$0.18 expected, while revenue came in at $464.9 million versus $614.9 million forecast.
Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) major shareholder Qatar Investment Authority sold 2,867,172 shares of the firm's stock in a transaction on 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 transaction, 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 filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Fluence Energy Stock Down 5.9%
NASDAQ FLNC opened at $19.54 on Tuesday. 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 company has a fifty day moving average of $15.50 and a two-hundred day moving average of $19.01. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of -54.28 and a beta of 2.62. Fluence Energy, Inc. has a 52 week low of $4.40 and a 52 week high of $33.51.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.02. The company had revenue of $464.89 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.24) earnings per share. On average, analysts predict that Fluence Energy, Inc. will post -0.22 earnings per share for the current year.
Institutional Trading of Fluence Energy
Several institutional investors and hedge funds have recently modified their holdings of the stock. Curio Wealth LLC purchased a new stake in shares of Fluence Energy in the fourth quarter valued at approximately $31,000. State of Wyoming purchased a new position in Fluence Energy during the 4th quarter worth $36,000. EverSource Wealth Advisors LLC raised its position in Fluence Energy by 31.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company's stock valued at $38,000 after purchasing an additional 672 shares in the last quarter. GAMMA Investing LLC raised its position in Fluence Energy by 22.2% during the 4th quarter. GAMMA Investing LLC now owns 2,406 shares of the company's stock valued at $48,000 after purchasing an additional 437 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Fluence Energy in the 3rd quarter worth $48,000. Institutional investors own 53.16% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Canaccord Genuity Group set a $28.00 price objective on shares of Fluence Energy in a research note on Friday, May 8th. Wall Street Zen lowered shares of Fluence Energy from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Weiss Ratings lowered shares of Fluence Energy from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, May 8th. Mizuho set a $13.00 price objective on shares of Fluence Energy in a research note on Friday, February 6th. Finally, Needham & Company LLC assumed coverage on shares of Fluence Energy in a research note on Friday, March 20th. They set a "hold" rating for the company. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $19.47.
Check Out Our Latest Stock Report on FLNC
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
