Rockefeller Capital Management L.P. Sells 46,397 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Rockefeller Capital Management L.P. lowered its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 11.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 361,066 shares of the company’s stock after selling 46,397 shares during the quarter. Rockefeller Capital Management L.P. owned 0.20% of Fluence Energy worth $5,734,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Trexquant Investment LP boosted its holdings in shares of Fluence Energy by 577.5% in the fourth quarter. Trexquant Investment LP now owns 876,463 shares of the company’s stock valued at $13,918,000 after purchasing an additional 747,103 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Fluence Energy by 19.1% in the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock worth $29,367,000 after buying an additional 296,325 shares during the period. ExodusPoint Capital Management LP bought a new position in shares of Fluence Energy during the 4th quarter worth $4,288,000. Principal Financial Group Inc. purchased a new position in shares of Fluence Energy during the third quarter valued at $5,742,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Fluence Energy by 73.7% in the third quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock valued at $12,177,000 after acquiring an additional 227,549 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FLNC. Roth Capital cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Mizuho began coverage on shares of Fluence Energy in a report on Wednesday, March 5th. They set an “outperform” rating and a $8.00 price objective on the stock. The Goldman Sachs Group lowered their target price on Fluence Energy from $26.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. JPMorgan Chase & Co. downgraded Fluence Energy from an “overweight” rating to a “neutral” rating and cut their price target for the company from $14.00 to $7.00 in a report on Friday, April 11th. Finally, Morgan Stanley reduced their price target on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Fluence Energy currently has an average rating of “Hold” and a consensus price target of $11.43.

Insiders Place Their Bets

In other news, CFO Ahmed Pasha bought 15,500 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was purchased at an average cost of $6.48 per share, with a total value of $100,440.00. Following the acquisition, the chief financial officer now directly owns 24,703 shares in the company, valued at $160,075.44. This trade represents a 168.42 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Julian Nebreda bought 23,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $6.35 per share, with a total value of $149,225.00. Following the completion of the purchase, the chief executive officer now owns 120,455 shares in the company, valued at approximately $764,889.25. This trade represents a 24.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 79,000 shares of company stock valued at $499,665. Company insiders own 0.65% of the company’s stock.

Fluence Energy Trading Up 1.4 %

Shares of NASDAQ:FLNC opened at $3.69 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. Fluence Energy, Inc. has a 52-week low of $3.49 and a 52-week high of $26.12. The stock has a market cap of $669.92 million, a price-to-earnings ratio of -73.80 and a beta of 2.48. The business has a 50-day moving average price of $5.30 and a 200-day moving average price of $13.64.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate 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%. Equities analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Fluence Energy 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.