Fluence Energy (NASDAQ:FLNC) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Fluence Energy (NASDAQ:FLNC) released its quarterly earnings data on Wednesday. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02, Zacks reports. The business had revenue of $464.89 million for the quarter, compared to analysts’ expectations of $614.93 million. Fluence Energy had a negative return on equity of 10.10% and a negative net margin of 2.04%.The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.24) EPS.

Fluence Energy Trading Up 6.9%

Shares of NASDAQ:FLNC traded up $0.87 during trading on Wednesday, reaching $13.56. The company’s stock had a trading volume of 10,532,451 shares, compared to its average volume of 4,630,592. The company has a current ratio of 1.48, a quick ratio of 1.08 and a debt-to-equity ratio of 0.80. Fluence Energy has a 12 month low of $3.93 and a 12 month high of $33.51. The firm’s 50 day simple moving average is $14.56 and its two-hundred day simple moving average is $18.78. The stock has a market capitalization of $2.49 billion, a PE ratio of -30.82 and a beta of 2.62.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Heynitz Harald Von sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $16.50, for a total value of $165,000.00. Following the completion of the sale, the director owned 63,550 shares of the company’s stock, valued at $1,048,575. This trade represents a 13.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors have recently modified their holdings of FLNC. AQR Capital Management LLC increased its position in shares of Fluence Energy by 1,441.8% during the first 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 period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Fluence Energy during the first quarter worth approximately $109,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Fluence Energy by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,559 shares of the company’s stock worth $575,000 after acquiring an additional 3,364 shares during the period. Goldman Sachs Group Inc. increased its position in shares of 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 acquiring an additional 2,076,668 shares during the period. Finally, Strs Ohio purchased a new position in Fluence Energy during the first quarter valued at approximately $93,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Bank of America set a $32.00 price objective on Fluence Energy in a research report on Tuesday, February 3rd. Needham & Company LLC assumed coverage on Fluence Energy in a research report on Friday, March 20th. They issued a “hold” rating on the stock. Morgan Stanley set a $16.00 price objective on Fluence Energy in a research report on Monday, January 26th. Roth Mkm set a $13.00 price objective on Fluence Energy in a research report on Thursday, April 30th. Finally, UBS Group reaffirmed a “sell” rating and issued a $8.00 price objective (down from $22.00) on shares of Fluence Energy in a research report on Friday, April 17th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Fluence Energy currently has an average rating of “Reduce” and an average target price of $16.12.

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.