Fluence Energy (NASDAQ:FLNC) Stock Price Up 6.5% – What’s Next?

Fluence Energy, Inc. (NASDAQ:FLNC) was up 6.5% on Thursday . The company traded as high as $7.29 and last traded at $7.30. Approximately 4,293,209 shares traded hands 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.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Barclays cut their target price on Fluence Energy from $22.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. The Goldman Sachs Group reduced their price target on shares of Fluence Energy from $26.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. BMO Capital Markets downgraded shares of Fluence Energy from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $22.00 to $10.00 in a report on Tuesday, February 11th. Susquehanna reduced 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. Finally, Canaccord Genuity Group dropped their price target on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.64.

Fluence Energy Price Performance

The firm has a 50-day simple moving average of $13.58 and a 200-day simple moving average of $17.63. The firm has a market cap of $1.26 billion, a P/E ratio of -138.80 and a beta of 2.37. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share 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%. As a group, analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Insider Transactions at Fluence Energy

In other news, Director Herman E. Bulls bought 10,000 shares of Fluence Energy stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the purchase, the director now directly owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Julian Nebreda purchased 23,500 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $6.35 per share, for a total transaction of $149,225.00. Following the purchase, the chief executive officer now owns 120,455 shares in the company, valued at approximately $764,889.25. The trade was a 24.24 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 79,000 shares of company stock valued at $601,265. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLNC. Duff & Phelps Investment Management Co. grew its holdings in Fluence Energy by 5.6% in 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 during the period. US Bancorp DE grew its position in shares of Fluence Energy by 676.6% during 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 in the last quarter. Lazard Freres Gestion S.A.S. grew its position 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 buying an additional 1,500 shares during the last quarter. Blue Trust Inc. grew its position in shares of Fluence Energy by 45.3% during 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 during the last quarter. Finally, KBC Group NV raised its holdings in shares of Fluence Energy by 1.6% in the fourth quarter. KBC Group NV now owns 108,296 shares of the company’s stock valued at $1,720,000 after buying an additional 1,671 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.