Fluence Energy, Inc. (NASDAQ:FLNC) CEO Julian Nebreda Buys 23,500 Shares of Stock

Fluence Energy, Inc. (NASDAQ:FLNC) CEO Julian Nebreda bought 23,500 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $6.35 per share, with a total value of $149,225.00. Following the completion of the acquisition, the chief executive officer now owns 120,455 shares in the company, valued at $764,889.25. This represents a 24.24 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Fluence Energy Trading Up 9.3 %

NASDAQ:FLNC opened at $7.03 on Wednesday. Fluence Energy, Inc. has a 1 year low of $6.05 and a 1 year high of $26.12. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 54.08, a PEG ratio of 0.49 and a beta of 2.37. The stock has a 50-day moving average price of $14.36 and a two-hundred day moving average price of $17.88.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. Sell-side analysts forecast that Fluence Energy, Inc. will post 0.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group dropped their target price on Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Piper Sandler dropped their price target on Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Morgan Stanley dropped their price target on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. The Goldman Sachs Group dropped their price target on Fluence Energy from $26.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Finally, Barclays dropped their price target on Fluence Energy from $22.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLNC. Zimmer Partners LP grew its stake in Fluence Energy by 757.7% in the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock valued at $34,052,000 after acquiring an additional 1,894,301 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Fluence Energy in the third quarter valued at about $22,059,000. Point72 Asset Management L.P. bought a new stake in shares of Fluence Energy in the third quarter valued at about $21,809,000. Webs Creek Capital Management LP bought a new stake in shares of Fluence Energy in the fourth quarter valued at about $15,118,000. Finally, Covalis Capital LLP bought a new stake in shares of Fluence Energy in the fourth quarter valued at about $12,113,000. 53.16% of the stock is owned by institutional investors and hedge funds.

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.