Insider Buying: Fluence Energy, Inc. (NASDAQ:FLNC) Director Buys 30,000 Shares of Stock

Fluence Energy, Inc. (NASDAQ:FLNC) Director Herman E. Bulls purchased 30,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $6.53 per share, with a total value of $195,900.00. Following the transaction, the director now directly owns 105,861 shares in the company, valued at approximately $691,272.33. This trade represents a 39.55 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Fluence Energy Stock Down 5.4 %

Shares of FLNC opened at $6.18 on Friday. The stock’s 50-day moving average price is $15.03 and its 200-day moving average price is $18.07. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 47.54, a PEG ratio of 0.49 and a beta of 2.37. Fluence Energy, Inc. has a 52 week low of $6.05 and a 52 week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. As a group, equities analysts anticipate that Fluence Energy, Inc. will post 0.48 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on FLNC shares. BMO Capital Markets lowered Fluence Energy from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $22.00 to $10.00 in a report on Tuesday. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a research note on Friday, November 8th. Citigroup decreased their price target on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays cut their price objective on shares of Fluence Energy from $22.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Canaccord Genuity Group decreased their target price on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in shares of Fluence Energy in the fourth quarter valued at approximately $34,000. US Bancorp DE raised its stake in Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after purchasing an additional 1,475 shares during the last quarter. CWM LLC raised its stake in Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing an additional 1,767 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Fluence Energy during the 3rd quarter worth $74,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Fluence Energy during the fourth quarter worth $79,000. Hedge funds and other institutional investors own 53.16% of the company’s stock.

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.