Insider Buying: Fluence Energy, Inc. (NASDAQ:FLNC) CEO Purchases 23,500 Shares of Stock

Fluence Energy, Inc. (NASDAQ:FLNC) CEO Julian Nebreda bought 23,500 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $6.35 per share, for a total transaction of $149,225.00. Following the acquisition, the chief executive officer now owns 120,455 shares in the company, valued at approximately $764,889.25. This represents a 24.24 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Fluence Energy Price Performance

Shares of FLNC opened at $6.43 on Tuesday. Fluence Energy, Inc. has a one year low of $6.05 and a one year high of $26.12. The business has a fifty day moving average of $14.36 and a 200 day moving average of $17.88. The firm has a market capitalization of $1.16 billion, a P/E ratio of 49.46, a PEG ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, February 10th. The company reported ($0.32) 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%. Analysts expect that Fluence Energy, Inc. will post 0.48 EPS for the current fiscal year.

Institutional Trading of Fluence Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC grew its position in shares of Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after acquiring an additional 1,767 shares during the period. Blue Trust Inc. grew its holdings in Fluence Energy by 45.3% during the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after purchasing an additional 1,502 shares during the period. International Assets Investment Management LLC grew its holdings in Fluence Energy by 2,170.9% during the third quarter. International Assets Investment Management LLC now owns 10,787 shares of the company’s stock valued at $245,000 after purchasing an additional 10,312 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Fluence Energy in the third quarter worth about $1,375,000. Finally, US Bancorp DE raised its stake in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares during the period. 53.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FLNC. Jefferies Financial Group cut shares of Fluence Energy from a “buy” rating to a “hold” rating and lowered their price target for the company from $22.00 to $15.00 in a research report on Wednesday, January 22nd. Susquehanna lowered their target price on shares of Fluence Energy from $23.00 to $10.00 and set a “positive” rating for the company in a report on Wednesday, February 12th. Bank of America downgraded Fluence Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $8.00 in a research note on Thursday, February 13th. Baird R W cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler cut their target price on Fluence Energy from $20.00 to $10.00 and set a “neutral” rating on the stock 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.64.

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.