Mirae Asset Global Investments Co. Ltd. Has $2.56 Million Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Mirae Asset Global Investments Co. Ltd. lowered its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,177 shares of the company’s stock after selling 5,688 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of Fluence Energy worth $2,556,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FLNC. National Bank of Canada FI bought a new position in shares of Fluence Energy during the third quarter valued at $27,000. Point72 Hong Kong Ltd bought a new position in shares of Fluence Energy during the second quarter valued at $39,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Fluence Energy by 185.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock valued at $49,000 after acquiring an additional 1,388 shares during the period. Quarry LP lifted its holdings in shares of Fluence Energy by 342.2% during the first quarter. Quarry LP now owns 2,401 shares of the company’s stock valued at $49,000 after acquiring an additional 1,858 shares during the period. Finally, Legal & General Group Plc lifted its position 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 purchasing an additional 3,083 shares during the period. Institutional investors and hedge funds own 53.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FLNC shares. Susquehanna upgraded shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price on the stock in a research report on Monday, February 26th. Bank of America upped their price target on Fluence Energy from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. JPMorgan Chase & Co. raised Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price target for the company in a research note on Friday, February 23rd. Raymond James raised Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Wednesday, April 3rd. Finally, Piper Sandler lowered their price target on Fluence Energy from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.56.

Fluence Energy Stock Down 2.5 %

Shares of FLNC opened at $15.58 on Friday. The stock has a market capitalization of $2.78 billion, a P/E ratio of -29.40 and a beta of 2.57. Fluence Energy, Inc. has a twelve month low of $13.03 and a twelve month high of $31.32. The company has a 50 day moving average of $16.55 and a 200-day moving average of $19.45.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Wednesday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The business had revenue of $363.96 million for the quarter, compared to the consensus estimate of $403.93 million. Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. Fluence Energy’s revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.21) earnings per share. On average, sell-side analysts anticipate that Fluence Energy, Inc. will post 0.14 earnings per share for the current fiscal 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.