Fluence Energy, Inc. (NASDAQ:FLNC) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its stake in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 7.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,610 shares of the company’s stock after buying an additional 2,389 shares during the period. The Manufacturers Life Insurance Company’s holdings in Fluence Energy were worth $617,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in FLNC. PARK CIRCLE Co purchased a new stake in shares of Fluence Energy during the 2nd quarter valued at $28,000. Pflug Koory LLC purchased a new stake in shares of Fluence Energy during the 1st quarter valued at $35,000. Baillie Gifford & Co. purchased a new stake in shares of Fluence Energy during the 1st quarter valued at $38,000. Quarry LP purchased a new stake in shares of Fluence Energy during the 4th quarter valued at $38,000. Finally, GAMMA Investing LLC grew its stake in shares of Fluence Energy by 264.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock valued at $51,000 after buying an additional 2,146 shares during the period. 53.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on FLNC shares. BMO Capital Markets upped their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday. Barclays decreased their price target on shares of Fluence Energy from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Scotiabank raised shares of Fluence Energy to a “hold” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. upped their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group started coverage on shares of Fluence Energy in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Fluence Energy has an average rating of “Moderate Buy” and a consensus price target of $26.11.

Insider Activity

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the completion of the purchase, the director now directly owns 65,861 shares in the company, valued at $1,107,123.41. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.41% of the company’s stock.

Fluence Energy Stock Performance

Shares of Fluence Energy stock opened at $21.30 on Wednesday. The firm has a market cap of $3.82 billion, a PE ratio of -54.62, a price-to-earnings-growth ratio of 0.75 and a beta of 2.54. The firm’s 50-day simple moving average is $19.59 and its 200-day simple moving average is $18.85. Fluence Energy, Inc. has a 1 year low of $12.74 and a 1 year high of $27.80.

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.