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

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price was up 8.5% during mid-day trading 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 changed 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 bought 30,000 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $6.53 per share, with a total value of $195,900.00. Following the completion of the purchase, the director now owns 105,861 shares of the company’s stock, valued at approximately $691,272.33. This trade represents a 39.55 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FLNC. Jefferies Financial Group lowered Fluence Energy from a “buy” rating to a “hold” rating and reduced their price objective for the company from $22.00 to $15.00 in a research report on Wednesday, January 22nd. Piper Sandler lowered their price target on Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday. Truist Financial cut their price objective on shares of Fluence Energy from $28.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday. Susquehanna dropped their target price on shares of Fluence Energy from $23.00 to $10.00 and set a “positive” rating on the stock in a research note on Wednesday. Finally, Canaccord Genuity Group reduced their price target 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 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.64.

Fluence Energy Stock Up 6.9 %

The company has a market capitalization of $1.20 billion, a PE ratio of 50.80, a PEG ratio of 0.49 and a beta of 2.37. The company’s 50 day moving average is $15.03 and its two-hundred day moving average is $18.07.

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 the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. Analysts forecast that Fluence Energy, Inc. will post 0.48 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Duff & Phelps Investment Management Co. raised its stake in Fluence Energy by 5.6% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock valued at $432,000 after purchasing an additional 1,432 shares in the last quarter. US Bancorp DE raised its position in shares of Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after buying an additional 1,475 shares in the last quarter. Lazard Freres Gestion S.A.S. lifted its holdings in shares of Fluence Energy by 7.3% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock valued at $352,000 after acquiring an additional 1,500 shares during the last quarter. Blue Trust Inc. grew its position in Fluence Energy by 45.3% in the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after acquiring an additional 1,502 shares in the last quarter. Finally, KBC Group NV raised its position in Fluence Energy by 1.6% during the fourth quarter. KBC Group NV now owns 108,296 shares of the company’s stock valued at $1,720,000 after purchasing an additional 1,671 shares during the period. 53.16% of the stock is currently owned by 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.