Fluence Energy, Inc. (NASDAQ:FLNC) Director Buys $54,100.00 in Stock

Fluence Energy, Inc. (NASDAQ:FLNC) Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the completion of the acquisition, the director now owns 115,861 shares of the company’s stock, valued at approximately $626,808.01. This represents a 9.45 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Fluence Energy Trading Up 6.1 %

FLNC stock opened at $5.60 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. The company has a fifty day moving average price of $11.51 and a two-hundred day moving average price of $16.90. Fluence Energy, Inc. has a one year low of $4.78 and a one year high of $26.12. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -112.00 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC) last announced its 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 negative return on equity of 0.36% and a negative net margin of 0.08%. Equities analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in Fluence Energy by 2,170.9% during the 3rd quarter. International Assets Investment Management LLC now owns 10,787 shares of the company’s stock worth $245,000 after purchasing an additional 10,312 shares during the last quarter. US Bancorp DE grew its holdings in Fluence Energy by 676.6% in 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. Harvest Portfolios Group Inc. increased its position in Fluence Energy by 26.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 24,523 shares of the company’s stock worth $557,000 after buying an additional 5,172 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Fluence Energy in the third quarter valued at about $5,742,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Fluence Energy in the third quarter valued at about $212,000. Institutional investors own 53.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Citigroup cut their target price on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley cut their price objective on shares of Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 12th. BMO Capital Markets cut shares of Fluence Energy from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $22.00 to $10.00 in a report on Tuesday, February 11th. Roth Mkm lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $6.50 in a research note on Wednesday, February 12th. Finally, Piper Sandler reduced their price objective on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.34.

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.