BUZZ-Fluence Energy tumbles as AES, Siemens to offload shares

Fluence Energy
The Aes

Fluence Energy

FLNC

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The Aes

AES

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** Renewable energy storage provider Fluence Energy FLNC.O shares down 16% at $21.19 on Tues after secondary offering news

** FLNC stock on course for steepest daily pct decline since Feb 6

** Arlington, Virginia-based co commences offering of 20 mln shares by certain controlling stockholders

** Prior to offering, AES AES.N and Germany's Siemens SIEGn.DE each owned ~51.5 mln shares, and Qatar Investment Authority held 14.7 mln shares, per the prospectus

** FLNC has about 184.3 mln total shares (Class A and Class B) outstanding

** Barclays, Goldman Sachs, JP Morgan joint bookrunners for offering

** Even with the decline, FLNC stock up 66% over the past week and up 6.5% YTD

** Of 20 analysts, recommendation breakdown is 5 "strong buy" or "buy", 12 "hold" and 3 "sell"; median PT $16, according to LSEG data


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