Wellington Shields Capital Management LLC Sells 26,000 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Wellington Shields Capital Management LLC lowered its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 53.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,000 shares of the company’s stock after selling 26,000 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Fluence Energy were worth $365,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. US Bancorp DE boosted its stake in Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after acquiring an additional 1,475 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Fluence Energy during the 3rd quarter valued at $74,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Fluence Energy in the 3rd quarter valued at $87,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Fluence Energy in the 4th quarter worth $79,000. Finally, Morse Asset Management Inc acquired a new stake in shares of Fluence Energy during the third quarter worth $175,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Insiders Place Their Bets

In other news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $5.41 per share, for a total transaction of $54,100.00. Following the purchase, the director now directly owns 115,861 shares of the company’s stock, valued at approximately $626,808.01. This trade represents a 9.45 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ahmed Pasha bought 15,500 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of $6.48 per share, with a total value of $100,440.00. Following the completion of the purchase, the chief financial officer now directly owns 24,703 shares in the company, valued at $160,075.44. The trade was a 168.42 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 89,000 shares of company stock valued at $655,365 in the last 90 days. 0.65% of the stock is currently owned by insiders.

Fluence Energy Stock Down 1.7 %

Shares of FLNC stock opened at $5.13 on Friday. The firm’s fifty day moving average price is $10.39 and its two-hundred day moving average price is $16.44. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. Fluence Energy, Inc. has a 1 year low of $4.79 and a 1 year high of $26.12. The firm has a market capitalization of $931.35 million, a P/E ratio of -102.60 and a beta of 2.50.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. On average, equities analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FLNC shares. Baird R W lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Bank of America downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their price target for the company from $20.00 to $8.00 in a research report on Thursday, February 13th. Morgan Stanley decreased their price objective on shares of Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. UBS Group lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $28.00 to $8.00 in a report on Wednesday, February 12th. Finally, Truist Financial decreased their price target on shares of Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.34.

Fluence Energy Company Profile

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.