Fluence Energy (NASDAQ:FLNC) Shares Up 2.9% – Here’s What Happened

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) were up 2.9% during trading on Friday . The company traded as high as $5.18 and last traded at $5.17. Approximately 428,783 shares changed hands during trading, a decline of 86% from the average daily volume of 3,104,869 shares. The stock had previously closed at $5.03.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FLNC shares. Citigroup cut their price target 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. Mizuho assumed coverage on Fluence Energy in a research report on Wednesday, March 5th. They set an “outperform” rating and a $8.00 target price on the stock. Morgan Stanley lowered their price target on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. The Goldman Sachs Group reduced their price objective 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. Finally, Wolfe Research lowered Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.34.

Fluence Energy Price Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The stock’s fifty day moving average price is $8.38 and its 200-day moving average price is $15.62. The firm has a market cap of $923.18 million, a PE ratio of -102.30 and a beta of 2.49.

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 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, equities analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fluence Energy news, CFO Ahmed Pasha bought 15,500 shares of the company’s stock in a transaction on Friday, February 14th. The stock was purchased at an average cost of $6.48 per share, for a total transaction of $100,440.00. Following the acquisition, the chief financial officer now owns 24,703 shares of the company’s stock, valued at $160,075.44. The trade was a 168.42 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost of $5.41 per share, for a total transaction of $54,100.00. Following the acquisition, the director now directly 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 disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 79,000 shares of company stock worth $499,665. 0.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd acquired a new stake in Fluence Energy during the 4th quarter valued at $34,000. Point72 DIFC Ltd purchased a new stake in shares of Fluence Energy in the third quarter valued at $74,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fluence Energy during the third quarter valued at $87,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Fluence Energy during the 4th quarter worth about $79,000. Finally, Tower Research Capital LLC TRC raised its stake in Fluence Energy by 827.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company’s stock valued at $88,000 after purchasing an additional 4,921 shares during the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.