Man Group plc Has $4.07 Million Stock Holdings in Fluence Energy, Inc. (NASDAQ:FLNC)

Man Group plc grew its position in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 18.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 256,413 shares of the company’s stock after purchasing an additional 40,523 shares during the period. Man Group plc’s holdings in Fluence Energy were worth $4,072,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of Fluence Energy during the fourth quarter valued at about $34,000. Tower Research Capital LLC TRC raised its position in shares of Fluence Energy by 827.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company’s stock worth $88,000 after acquiring an additional 4,921 shares during the last quarter. Blueshift Asset Management LLC bought a new position in shares of Fluence Energy during the fourth quarter worth about $176,000. Envestnet Asset Management Inc. raised its position in shares of Fluence Energy by 47.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company’s stock worth $211,000 after acquiring an additional 4,285 shares during the last quarter. Finally, Polymer Capital Management US LLC bought a new position in shares of Fluence Energy during the fourth quarter worth about $212,000. 53.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Cynthia A. Arnold acquired 33,000 shares of the company’s stock in a transaction on Monday, May 12th. The shares were acquired at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the purchase, the director now owns 86,202 shares in the company, valued at approximately $508,591.80. The trade was a 62.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $5.41 per share, for a total transaction of $54,100.00. Following the completion of the acquisition, the director now directly owns 115,861 shares in the company, valued at approximately $626,808.01. The trade was a 9.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by corporate insiders.

Fluence Energy Trading Down 6.5%

NASDAQ FLNC opened at $5.01 on Thursday. The company has a market cap of $909.56 million, a price-to-earnings ratio of -100.20 and a beta of 2.49. Fluence Energy, Inc. has a 52 week low of $3.46 and a 52 week high of $26.12. The business has a 50 day moving average price of $4.60 and a 200-day moving average price of $10.89. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The firm had revenue of $431.62 million for the quarter, compared to the consensus estimate of $328.17 million. Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. The company’s revenue was down 30.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) EPS. As a group, equities analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FLNC. HSBC downgraded Fluence Energy from a “buy” rating to a “hold” rating and set a $4.00 price objective for the company. in a research report on Monday, April 28th. Jefferies Financial Group downgraded Fluence Energy from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $4.00 to $3.00 in a research report on Thursday, May 15th. BMO Capital Markets downgraded Fluence Energy from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $22.00 to $10.00 in a research report on Tuesday, February 11th. Mizuho assumed coverage on Fluence Energy in a report on Wednesday, March 5th. They issued an “outperform” rating and a $8.00 target price for the company. Finally, Morgan Stanley lifted their target price on Fluence Energy from $4.00 to $5.00 and gave the stock an “equal weight” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Fluence Energy presently has an average rating of “Hold” and an average target price of $8.21.

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.