Fluence Energy (NASDAQ:FLNC) Shares Gap Up on Insider Buying Activity

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price gapped up prior to trading on Friday after an insider bought additional shares in the company. The stock had previously closed at $15.80, but opened at $16.18. Fluence Energy shares last traded at $16.43, with a volume of 403,282 shares.

Specifically, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the acquisition, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. This represents a 15.18 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

FLNC has been the subject of a number of analyst reports. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective for the company in a research report on Friday, November 8th. Piper Sandler upped their target price on Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Royal Bank of Canada dropped their price objective on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Bank of America cut their target price on shares of Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Truist Financial raised their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Fluence Energy has an average rating of “Moderate Buy” and a consensus target price of $26.65.

Fluence Energy Stock Performance

The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 124.92, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39. The stock’s fifty day moving average is $19.09 and its two-hundred day moving average is $18.94.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 earnings per share. Sell-side analysts anticipate that Fluence Energy, Inc. will post 0.56 earnings per share for the current year.

Institutional Investors Weigh In On Fluence Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. PARK CIRCLE Co acquired a new position in shares of Fluence Energy in the 2nd quarter valued at about $28,000. US Bancorp DE boosted its position 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 acquiring an additional 1,475 shares during the period. CWM LLC increased its stake in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Fluence Energy during the 3rd quarter valued at $74,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Fluence Energy during the 3rd quarter valued at about $87,000. Institutional investors own 53.16% of the company’s stock.

About Fluence Energy

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.