Mackenzie Financial Corp Invests $613,000 in Fluence Energy, Inc. (NASDAQ:FLNC)

Mackenzie Financial Corp bought a new stake in Fluence Energy, Inc. (NASDAQ:FLNC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 35,375 shares of the company’s stock, valued at approximately $613,000.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Fluence Energy by 41.0% during the 4th quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock worth $131,685,000 after buying an additional 1,605,345 shares in the last quarter. Lazard Freres Gestion S.A.S. bought a new stake in Fluence Energy during the second quarter worth about $26,877,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Fluence Energy by 1,355.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company’s stock valued at $17,758,000 after purchasing an additional 953,761 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Fluence Energy by 21.2% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company’s stock valued at $75,086,000 after purchasing an additional 757,105 shares in the last quarter. Finally, Ghisallo Capital Management LLC acquired a new position in shares of Fluence Energy during the 4th quarter worth approximately $11,925,000. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Trading Up 1.9 %

Shares of FLNC opened at $21.99 on Friday. Fluence Energy, Inc. has a 12 month low of $12.74 and a 12 month high of $27.80. The firm’s 50 day moving average is $18.89 and its 200-day moving average is $18.61. The stock has a market capitalization of $3.94 billion, a PE ratio of -56.38, a P/E/G ratio of 7.24 and a beta of 2.54.

Insider Buying and Selling

In related news, Director Herman E. Bulls acquired 10,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of $16.81 per share, with a total value of $168,100.00. Following the acquisition, the director now directly owns 65,861 shares of the company’s stock, valued at approximately $1,107,123.41. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FLNC has been the subject of several analyst reports. Robert W. Baird decreased their target price on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Barclays decreased their price objective 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. Bank of America dropped their target price on shares of Fluence Energy from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Piper Sandler reduced their price target on Fluence Energy from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Finally, Guggenheim upgraded Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.21.

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.