Fluence Energy (NASDAQ:FLNC) Trading Up 7.4% on Insider Buying Activity

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price was up 7.4% on Friday after an insider bought additional shares in the company. The company traded as high as $5.59 and last traded at $5.67. Approximately 420,409 shares changed hands during trading, a decline of 93% from the average daily volume of 6,307,909 shares. The stock had previously closed at $5.28.

Specifically, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $5.41 per share, with a total value of $54,100.00. Following 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FLNC shares. Piper Sandler cut their price target on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Bank of America lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $20.00 to $8.00 in a research note on Thursday, February 13th. Canaccord Genuity Group cut their target price on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Truist Financial cut their target price on shares of Fluence Energy from $28.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Finally, UBS Group lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $28.00 to $8.00 in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.34.

Fluence Energy Stock Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The company has a market capitalization of $1.02 billion, a PE ratio of -112.00 and a beta of 2.49. The business’s 50-day moving average is $11.51 and its 200-day moving average is $16.89.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. On average, research analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Duff & Phelps Investment Management Co. raised its holdings in Fluence Energy by 5.6% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock worth $432,000 after buying an additional 1,432 shares during the last quarter. US Bancorp DE raised its holdings in 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 buying an additional 1,475 shares during the last quarter. Lazard Freres Gestion S.A.S. raised its holdings in Fluence Energy by 7.3% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock worth $352,000 after buying an additional 1,500 shares during the last quarter. KBC Group NV raised its holdings in Fluence Energy by 1.6% in the fourth quarter. KBC Group NV now owns 108,296 shares of the company’s stock worth $1,720,000 after buying an additional 1,671 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Fluence Energy by 0.4% in the fourth quarter. Ameriprise Financial Inc. now owns 440,002 shares of the company’s stock worth $6,988,000 after acquiring an additional 1,734 shares during the period. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.