Nicola Wealth Management LTD. Sells 6,000 Shares of Fluence Energy, Inc. (NASDAQ:FLNC)

Nicola Wealth Management LTD. lowered its stake in Fluence Energy, Inc. (NASDAQ:FLNC) by 7.4% in the 4th quarter, HoldingsChannel reports. The fund owned 75,000 shares of the company’s stock after selling 6,000 shares during the period. Nicola Wealth Management LTD.’s holdings in Fluence Energy were worth $1,191,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. US Bancorp DE boosted its holdings 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 worth $38,000 after purchasing an additional 1,475 shares during the period. Point72 DIFC Ltd bought a new stake in Fluence Energy in the third quarter worth $74,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Fluence Energy during the third quarter worth $87,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Fluence Energy during the fourth quarter valued at $79,000. Finally, Morse Asset Management Inc bought a new stake in shares of Fluence Energy in the 3rd quarter worth about $175,000. 53.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FLNC shares. Royal Bank of Canada cut shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $25.00 to $7.00 in a research note on Wednesday, February 12th. Guggenheim lowered Fluence Energy from a “buy” rating to a “sell” rating and dropped their target price for the company from $26.00 to $6.00 in a research report on Tuesday, February 11th. Jefferies Financial Group downgraded Fluence Energy from a “buy” rating to a “hold” rating and reduced their price target for the stock from $22.00 to $15.00 in a report on Wednesday, January 22nd. Canaccord Genuity Group cut their price objective on Fluence Energy from $34.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $20.00 target price (down from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $14.64.

Fluence Energy Stock Down 9.3 %

FLNC stock opened at $5.19 on Tuesday. The company has a market capitalization of $942.24 million, a P/E ratio of -103.80 and a beta of 2.37. Fluence Energy, Inc. has a 12 month low of $5.15 and a 12 month high of $26.12. The firm’s fifty day simple moving average is $12.59 and its 200-day simple moving average is $17.32. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly 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 return on equity of 0.36% and a negative net margin of 0.08%. As a group, equities research analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at Fluence Energy

In other news, CEO Julian Nebreda acquired 23,500 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was bought at an average cost of $6.35 per share, for a total transaction of $149,225.00. Following the purchase, the chief executive officer now owns 120,455 shares in the company, valued at approximately $764,889.25. This represents a 24.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ahmed Pasha bought 15,500 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was purchased at an average price of $6.48 per share, for a total transaction of $100,440.00. Following the transaction, the chief financial officer now owns 24,703 shares of the company’s stock, valued at approximately $160,075.44. This represents a 168.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 79,000 shares of company stock valued at $601,265. 0.65% of the stock is owned by company insiders.

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.