Wellington Management Group LLP Reduces Stock Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Wellington Management Group LLP trimmed its holdings in Fluence Energy, Inc. (NASDAQ:FLNC) by 28.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 583,882 shares of the company’s stock after selling 236,439 shares during the period. Wellington Management Group LLP owned about 0.32% of Fluence Energy worth $13,260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FLNC. Hsbc Holdings PLC raised its holdings in Fluence Energy by 3.8% in the second quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock valued at $420,000 after acquiring an additional 897 shares in the last quarter. US Bancorp DE raised its stake in shares of Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after purchasing an additional 1,475 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Fluence Energy by 45.3% during the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after purchasing an additional 1,502 shares during the last quarter. PARK CIRCLE Co bought a new stake in Fluence Energy in the second quarter valued at about $28,000. Finally, CWM LLC increased its holdings in Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares during the last quarter. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FLNC has been the subject of several research reports. Piper Sandler lifted their target price on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Bank of America decreased their price objective on shares of Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Robert W. Baird reduced their price target on shares of Fluence Energy from $27.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. BMO Capital Markets lifted their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.85.

Fluence Energy Stock Up 0.6 %

Shares of FLNC opened at $17.17 on Friday. The firm has a market capitalization of $3.11 billion, a PE ratio of 132.08, a P/E/G ratio of 0.54 and a beta of 2.39. The firm has a 50-day moving average price of $20.15 and a 200 day moving average price of $19.45. Fluence Energy, Inc. has a 52-week low of $12.74 and a 52-week high of $27.39.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm posted $0.02 earnings per share. The business’s revenue was up 82.5% on a year-over-year basis. On average, equities analysts expect that Fluence Energy, Inc. will post 0.56 EPS for the current year.

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.