Swiss National Bank Has $1 Million Stake in Fluence Energy, Inc. $FLNC

Swiss National Bank increased its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 17.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,000 shares of the company’s stock after buying an additional 22,200 shares during the quarter. Swiss National Bank’s holdings in Fluence Energy were worth $1,000,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FLNC. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Fluence Energy in the 2nd quarter valued at $1,342,000. Intech Investment Management LLC increased its position in shares of Fluence Energy by 9.1% in the second quarter. Intech Investment Management LLC now owns 40,514 shares of the company’s stock worth $272,000 after purchasing an additional 3,382 shares during the period. Creative Planning acquired a new position in Fluence Energy in the second quarter valued at about $109,000. SG Americas Securities LLC raised its stake in Fluence Energy by 1,794.8% in the second quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company’s stock valued at $12,539,000 after purchasing an additional 1,770,090 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in Fluence Energy by 36.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 16,934 shares of the company’s stock worth $114,000 after purchasing an additional 4,548 shares during the period. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Price Performance

Shares of NASDAQ:FLNC opened at $22.86 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.17 and a current ratio of 1.51. Fluence Energy, Inc. has a 52 week low of $3.46 and a 52 week high of $24.79. The firm has a market cap of $4.18 billion, a PE ratio of -54.43 and a beta of 2.88. The firm’s fifty day moving average is $17.99 and its 200-day moving average is $11.13.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, November 24th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.39 billion. Fluence Energy had a negative net margin of 2.14% and a negative return on equity of 9.21%. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 earnings per share. Sell-side analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FLNC has been the topic of several recent analyst reports. Bank of America raised their target price on shares of Fluence Energy from $11.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Barclays lifted their price objective on shares of Fluence Energy from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 25th. Wall Street Zen upgraded shares of Fluence Energy from a “sell” rating to a “hold” rating in a research report on Sunday, November 2nd. BNP Paribas set a $9.00 target price on Fluence Energy and gave the company an “underperform” rating in a report on Tuesday, October 21st. Finally, Mizuho reiterated an “underperform” rating and issued a $15.00 price target (up previously from $9.00) on shares of Fluence Energy in a research note on Monday. Four analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $12.93.

About Fluence Energy

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