Fluence Energy (NASDAQ:FLNC) Trading 6.5% Higher – Still a Buy?

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) were up 6.5% during mid-day trading on Thursday . The company traded as high as $7.29 and last traded at $7.30. Approximately 4,293,209 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 6,452,442 shares. The stock had previously closed at $6.85.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FLNC shares. Barclays dropped their target price on shares of Fluence Energy from $22.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, February 12th. Robert W. Baird reiterated a “neutral” rating and issued a $20.00 price objective (down from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Piper Sandler lowered their target price on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. BMO Capital Markets downgraded shares of Fluence Energy from an “outperform” rating to a “market perform” rating and cut their price target for the company from $22.00 to $10.00 in a research report on Tuesday, February 11th. Finally, Wolfe Research downgraded shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $14.64.

Fluence Energy Stock Performance

The stock’s 50 day moving average price is $13.98 and its 200 day moving average price is $17.75. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -146.20 and a beta of 2.37.

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 analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. Analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In other news, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $15.57 per share, with a total value of $155,700.00. Following the acquisition, the director now owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Julian Nebreda bought 23,500 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was purchased at an average cost of $6.35 per share, for a total transaction 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 trade represents a 24.24 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 79,000 shares of company stock valued at $601,265. 0.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Fluence Energy by 18.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,459 shares of the company’s stock valued at $3,040,000 after acquiring an additional 30,252 shares during the period. Zimmer Partners LP raised its holdings in Fluence Energy by 757.7% in the 4th 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. Vident Advisory LLC raised its holdings in Fluence Energy by 35.8% in the 4th quarter. Vident Advisory LLC now owns 13,930 shares of the company’s stock valued at $221,000 after acquiring an additional 3,672 shares during the period. Wexford Capital LP bought a new position in Fluence Energy in the 4th quarter valued at about $2,480,000. Finally, Squarepoint Ops LLC increased its holdings in shares of Fluence Energy by 5.8% during the fourth quarter. Squarepoint Ops LLC now owns 129,866 shares of the company’s stock worth $2,062,000 after purchasing an additional 7,074 shares during the period. 53.16% of the stock is owned by 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.