Canal Insurance CO Grows Stake in Fluence Energy, Inc. (NASDAQ:FLNC)

Canal Insurance CO raised its holdings in shares of Fluence Energy, Inc. (NASDAQ:FLNC) by 15.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 300,000 shares of the company’s stock after acquiring an additional 39,200 shares during the period. Fluence Energy makes up about 1.2% of Canal Insurance CO’s investment portfolio, making the stock its 28th largest position. Canal Insurance CO’s holdings in Fluence Energy were worth $4,764,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FLNC. US Bancorp DE grew its holdings in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after purchasing an additional 1,475 shares during the last quarter. CWM LLC increased its position in shares of 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 acquiring an additional 1,767 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Fluence Energy during the third quarter worth about $74,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Fluence Energy in the fourth quarter worth about $79,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Fluence Energy during the 3rd quarter valued at about $87,000. 53.16% of the stock is currently owned by institutional investors.

Insider Transactions at Fluence Energy

In other 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 bought at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the acquisition, the director now 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.41% of the company’s stock.

Fluence Energy Price Performance

Fluence Energy stock opened at $13.70 on Tuesday. Fluence Energy, Inc. has a 1 year low of $12.74 and a 1 year high of $26.12. The firm’s 50 day moving average price is $16.99 and its 200-day moving average price is $18.48. The stock has a market cap of $2.48 billion, a P/E ratio of 105.35, a PEG ratio of 0.44 and a beta of 2.42.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Susquehanna upped their target price on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. Truist Financial lifted their target price on shares of Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Citigroup lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $32.00 to $24.00 in a report on Tuesday, October 1st. Royal Bank of Canada decreased their target price on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 price target (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.80.

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.