Rockefeller Capital Management L.P. Sells 3,100 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Rockefeller Capital Management L.P. lessened its position in shares of Fluence Energy, Inc. (NASDAQ:FLNCGet Rating) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,363 shares of the company’s stock after selling 3,100 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.10% of Fluence Energy worth $2,456,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FLNC. Point72 Hong Kong Ltd purchased a new position in Fluence Energy during the 2nd quarter valued at approximately $39,000. DekaBank Deutsche Girozentrale purchased a new position in Fluence Energy during the 3rd quarter valued at approximately $48,000. Legal & General Group Plc grew its holdings in Fluence Energy by 107.9% during the 2nd quarter. Legal & General Group Plc now owns 5,940 shares of the company’s stock valued at $56,000 after buying an additional 3,083 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Fluence Energy during the 3rd quarter valued at approximately $57,000. Finally, Quantbot Technologies LP purchased a new position in Fluence Energy during the 1st quarter valued at approximately $69,000. Hedge funds and other institutional investors own 19.60% of the company’s stock.

Fluence Energy Stock Down 7.3 %

FLNC opened at $23.10 on Wednesday. The business has a fifty day moving average of $18.19 and a 200 day moving average of $16.23. Fluence Energy, Inc. has a 52-week low of $4.96 and a 52-week high of $24.93. The stock has a market cap of $4.03 billion, a P/E ratio of -14.90 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNCGet Rating) last issued its earnings results on Monday, December 12th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). The firm had revenue of $441.98 million for the quarter, compared to the consensus estimate of $361.90 million. Fluence Energy had a negative net margin of 8.72% and a negative return on equity of 23.23%. Equities analysts anticipate that Fluence Energy, Inc. will post -0.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Seaport Res Ptn restated a “buy” rating on shares of Fluence Energy in a report on Wednesday, December 14th. JPMorgan Chase & Co. dropped their target price on Fluence Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, October 20th. Robert W. Baird lifted their target price on Fluence Energy from $22.00 to $27.00 in a report on Wednesday, December 14th. Evercore ISI lifted their target price on Fluence Energy to $24.00 in a report on Wednesday, December 14th. Finally, Morgan Stanley lifted their target price on Fluence Energy from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.33.

Fluence Energy Profile

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Fluence Energy, Inc, through its subsidiaries, offers energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications in the Americas, Asia Pacific, Europe, Middle-East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.

Further Reading

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Institutional Ownership by Quarter for Fluence Energy (NASDAQ:FLNC)

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