Fluence Energy (NASDAQ:FLNC) Stock Price Up 8.5% Following Insider Buying Activity

Fluence Energy, Inc. (NASDAQ:FLNC) shares rose 8.5% on Friday following insider buying activity. The company traded as high as $6.87 and last traded at $6.71. Approximately 3,669,419 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 6,184,579 shares. The stock had previously closed at $6.18.

Specifically, Director Herman E. Bulls acquired 30,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were acquired at an average price of $6.53 per share, for a total transaction of $195,900.00. Following the completion of the transaction, the director now directly owns 105,861 shares of the company’s stock, valued at approximately $691,272.33. The trade was a 39.55 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

FLNC has been the subject of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday. Truist Financial reduced their price target on Fluence Energy from $28.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday. Susquehanna dropped their price objective on Fluence Energy from $23.00 to $10.00 and set a “positive” rating for the company in a report on Wednesday. Bank of America lowered Fluence Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $8.00 in a research note on Thursday. Finally, Royal Bank of Canada lowered shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $25.00 to $7.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Fluence Energy presently has an average rating of “Hold” and a consensus price target of $14.64.

Fluence Energy Stock Performance

The firm’s 50 day moving average is $15.03 and its 200 day moving average is $18.07. The stock has a market cap of $1.20 billion, a P/E ratio of 50.80, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly 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 return on equity of 4.10% and a net margin of 0.89%. As a group, analysts expect that Fluence Energy, Inc. will post 0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLNC. Sanders Morris Harris LLC acquired a new position in shares of Fluence Energy during the fourth quarter valued at about $812,000. Cidel Asset Management Inc. acquired a new position in Fluence Energy during the 4th quarter valued at approximately $350,000. SG Americas Securities LLC raised its holdings in shares of Fluence Energy by 79.2% in the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock worth $776,000 after buying an additional 21,597 shares during the last quarter. FMR LLC lifted its stake in shares of Fluence Energy by 9.0% during the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after buying an additional 132,868 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in shares of Fluence Energy during the third quarter valued at $5,742,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

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.