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

Fluence Energy, Inc. (NASDAQ:FLNC) shares gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $6.43, but opened at $6.78. Fluence Energy shares last traded at $6.97, with a volume of 2,178,046 shares trading hands.

Specifically, CEO Julian Nebreda purchased 23,500 shares of Fluence Energy stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $6.35 per share, with a total value of $149,225.00. Following the completion of the transaction, the chief executive officer now directly owns 120,455 shares of the company’s stock, valued at $764,889.25. This represents a 24.24 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ahmed Pasha bought 15,500 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were bought at an average price of $6.48 per share, with a total value of $100,440.00. Following the completion of the transaction, the chief financial officer now owns 24,703 shares in the company, valued at approximately $160,075.44. This trade represents a 168.42 % increase in their position. The disclosure for this purchase can be found here. In related news, Director Herman E. Bulls purchased 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought 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 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 purchase was disclosed in a document filed with the SEC, which is available through this link.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FLNC shares. Truist Financial reduced 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 note on Wednesday, February 12th. Bank of America lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $20.00 to $8.00 in a research report on Thursday, February 13th. Canaccord Genuity Group lowered their price objective 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, February 12th. Jefferies Financial Group downgraded Fluence Energy from a “buy” rating to a “hold” rating and reduced their target price for the company from $22.00 to $15.00 in a report on Wednesday, January 22nd. Finally, Roth Capital downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Fluence Energy currently has a consensus rating of “Hold” and an average target price of $14.64.

Fluence Energy Stock Performance

The company has a market cap of $1.26 billion, a PE ratio of 53.08, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The company’s 50 day moving average price is $14.36 and its 200-day moving average price is $17.88.

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 net margin of 0.89% and a return on equity of 4.10%. Equities research analysts expect that Fluence Energy, Inc. will post 0.48 EPS for the current year.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors have recently added to or reduced their stakes in FLNC. Zimmer Partners LP raised its position in shares of Fluence Energy by 757.7% in the fourth 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. Erste Asset Management GmbH purchased a new position in Fluence Energy in the 3rd quarter valued at approximately $22,059,000. Point72 Asset Management L.P. bought a new stake in Fluence Energy during the 3rd quarter valued at $21,809,000. Webs Creek Capital Management LP purchased a new stake in shares of Fluence Energy during the fourth quarter worth $15,118,000. Finally, Covalis Capital LLP purchased a new position in shares of Fluence Energy in the fourth quarter valued at $12,113,000. 53.16% of the stock is 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.