Mandatum Life Insurance Co Ltd acquired a new stake in Fluence Energy, Inc. (NASDAQ:FLNC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 164,791 shares of the company's stock, valued at approximately $2,617,000. Fluence Energy comprises about 0.8% of Mandatum Life Insurance Co Ltd's investment portfolio, making the stock its 27th biggest position. Mandatum Life Insurance Co Ltd owned about 0.09% of Fluence Energy as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of FLNC. Sanders Morris Harris LLC acquired a new stake in Fluence Energy during the 4th quarter valued at approximately $812,000. FMR LLC lifted its stake in Fluence Energy by 9.0% during the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company's stock valued at $36,475,000 after acquiring an additional 132,868 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Fluence Energy during the 3rd quarter valued at approximately $5,742,000. Erste Asset Management GmbH purchased a new position in shares of Fluence Energy during the 3rd quarter valued at approximately $22,059,000. Finally, XTX Topco Ltd purchased a new position in shares of Fluence Energy during the 3rd quarter valued at approximately $825,000. 53.16% of the stock is owned by hedge funds and other institutional investors.
Fluence Energy Stock Performance
Shares of FLNC stock traded down $1.14 on Monday, hitting $14.44. 7,463,628 shares of the stock traded hands, compared to its average volume of 2,201,036. The firm's 50-day moving average price is $17.76 and its two-hundred day moving average price is $18.62. Fluence Energy, Inc. has a twelve month low of $12.74 and a twelve month high of $26.12. The stock has a market capitalization of $2.62 billion, a PE ratio of 111.08, a PEG ratio of 0.53 and a beta of 2.42.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The company had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the prior year, the company posted $0.02 earnings per share. Fluence Energy's revenue for the quarter was up 82.5% compared to the same quarter last year. On average, equities research analysts anticipate that Fluence Energy, Inc. will post 0.55 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on FLNC. Robert W. Baird reaffirmed a "neutral" rating and set a $20.00 target price (down from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Susquehanna lifted their target price on shares of Fluence Energy from $23.00 to $28.00 and gave the company a "positive" rating in a report on Wednesday, October 16th. Bank of America cut their target price on shares of Fluence Energy from $25.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Canaccord Genuity Group cut their price target on shares of Fluence Energy from $37.00 to $34.00 and set a "buy" rating for the company in a report on Friday, November 29th. Finally, Royal Bank of Canada cut their price target on shares of Fluence Energy from $28.00 to $27.00 and set an "outperform" rating for the company in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $26.65.
Get Our Latest Report on FLNC
Insider Buying and Selling at Fluence Energy
In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of the business's stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the purchase, the director now directly owns 75,861 shares of the company's stock, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is currently owned by corporate insiders.
Fluence Energy Company Profile
(
Free Report)
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.
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