Mandatum Life Insurance Co Ltd Takes Position in Fluence Energy, Inc. (NASDAQ:FLNC)

Mandatum Life Insurance Co Ltd acquired a new position in Fluence Energy, Inc. (NASDAQ:FLNC) in the 4th quarter, according to its most recent filing 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 makes up approximately 0.8% of Mandatum Life Insurance Co Ltd’s holdings, making the stock its 27th biggest position.

Other hedge funds have also bought and sold shares of the company. US Bancorp DE boosted its holdings in shares of Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after acquiring an additional 1,475 shares during the last quarter. CWM LLC lifted its position in Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing an additional 1,767 shares during the period. Point72 DIFC Ltd purchased a new stake in Fluence Energy in the third quarter worth approximately $74,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in Fluence Energy in the 4th quarter worth approximately $79,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fluence Energy during the 3rd quarter valued at $87,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Performance

NASDAQ FLNC opened at $14.44 on Monday. Fluence Energy, Inc. has a one year low of $12.74 and a one year high of $26.12. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 111.08, a price-to-earnings-growth ratio of 0.53 and a beta of 2.42. The company’s 50-day simple moving average is $17.76 and its two-hundred day simple moving average is $18.62.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.11. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The business’s revenue for the quarter was up 82.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 EPS. Equities analysts expect that Fluence Energy, Inc. will post 0.55 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Herman E. Bulls bought 10,000 shares of Fluence Energy stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the purchase, the director now directly owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

FLNC has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Susquehanna upped their price target on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research report on Wednesday, October 16th. Citigroup downgraded Fluence Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $32.00 to $24.00 in a research report on Tuesday, October 1st. Truist Financial boosted their price objective on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Piper Sandler increased their price objective on shares of Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fluence Energy has a consensus rating of “Moderate Buy” and an average price target of $26.65.

Fluence Energy Company 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.