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

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Royal Bank of Canada cut Fluence Energy from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $25.00 to $7.00 in a research note on Wednesday, February 12th. Wolfe Research cut Fluence Energy from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Citigroup decreased their target price on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Finally, Truist Financial decreased their target price on Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.64.

Fluence Energy Stock Up 5.9 %

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 business’s fifty day moving average price is $13.98 and its two-hundred day moving average price is $17.75. The firm has a market cap of $1.32 billion, a P/E ratio of -146.20 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate 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%. As a group, equities research analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the purchase, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Ahmed Pasha bought 15,500 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average price of $6.48 per share, for a total transaction of $100,440.00. Following the acquisition, the chief financial officer now directly owns 24,703 shares in the company, valued at approximately $160,075.44. This trade represents a 168.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 79,000 shares of company stock valued at $601,265 over the last 90 days. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Fluence Energy by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock valued at $99,287,000 after purchasing an additional 110,256 shares during the period. Zimmer Partners LP boosted 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 purchasing an additional 1,894,301 shares during the period. Clearbridge Investments LLC boosted its holdings in Fluence Energy by 19.1% in the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock valued at $29,367,000 after purchasing an additional 296,325 shares during the period. FMR LLC boosted its holdings in Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after purchasing an additional 132,868 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in Fluence Energy by 63.5% in the 4th quarter. Point72 Asset Management L.P. now owns 1,570,550 shares of the company’s stock valued at $24,940,000 after purchasing an additional 610,229 shares during the period. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.