Mandatum Life Insurance Co Ltd Purchases New Stake in Fluence Energy, Inc. (NASDAQ:FLNC)

Mandatum Life Insurance Co Ltd acquired a new position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 164,791 shares of the company’s stock, valued at approximately $2,617,000. Fluence Energy comprises 0.8% of Mandatum Life Insurance Co Ltd’s investment portfolio, making the stock its 27th biggest holding. Mandatum Life Insurance Co Ltd owned about 0.09% of Fluence Energy as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of FLNC. US Bancorp DE raised its stake in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares during the period. CWM LLC lifted its stake in Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Fluence Energy in the third quarter valued at approximately $74,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fluence Energy during the third quarter worth $87,000. Finally, Blue Trust Inc. lifted its position in Fluence Energy by 45.3% in the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after acquiring an additional 1,502 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.

Insider Activity

In related news, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the acquisition, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.41% of the company’s stock.

Fluence Energy Price Performance

FLNC opened at $14.44 on Monday. The company has a fifty day moving average price of $17.76 and a 200-day moving average price of $18.62. The firm has a market capitalization of $2.62 billion, a P/E ratio of 111.08, a price-to-earnings-growth ratio of 0.53 and a beta of 2.42. Fluence Energy, Inc. has a one year low of $12.74 and a one year high of $26.12.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on FLNC shares. Citigroup cut Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $32.00 to $24.00 in a research report on Tuesday, October 1st. Royal Bank of Canada cut their price objective on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Piper Sandler lifted their target price on Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Finally, BMO Capital Markets raised their price target on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Fluence Energy presently has an average rating of “Moderate Buy” and a consensus target price of $26.65.

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.