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

Fluence Energy, Inc. (NASDAQ:FLNC) shares gapped up prior to trading on Friday following insider buying activity. 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 trading hands.

Specifically, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $15.57 per share, with a total value of $155,700.00. Following the completion of the transaction, the director now owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. The trade was a 15.18 % 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.

Wall Street Analyst Weigh In

FLNC has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Royal Bank of Canada dropped their price objective on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Guggenheim reiterated a “buy” rating and issued a $26.00 target price on shares of Fluence Energy in a report on Friday, December 6th. BMO Capital Markets upped their price target on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective on the stock in a research note on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.65.

Fluence Energy Stock Performance

The business’s fifty day simple moving average is $19.18 and its 200 day simple moving average is $18.99. The stock has a market cap 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.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the firm posted $0.02 earnings per share. The company’s revenue was up 82.5% compared to the same quarter last year. As a group, analysts forecast that Fluence Energy, Inc. will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently made changes to their positions in FLNC. Handelsbanken Fonder AB raised its holdings in Fluence Energy by 47.3% in the third quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock valued at $144,800,000 after acquiring an additional 2,047,063 shares in the last quarter. FMR LLC increased its position in shares of Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after purchasing an additional 132,868 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Fluence Energy by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after purchasing an additional 60,633 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Fluence Energy by 1.6% during the second quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock worth $26,025,000 after purchasing an additional 23,927 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in Fluence Energy in the third quarter worth about $22,059,000. 53.16% of the stock is currently 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.