Fluence Energy (NASDAQ:FLNC) Trading Up 7.4% Following Insider Buying Activity

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price traded up 7.4% on Friday following insider buying activity. The company traded as high as $5.59 and last traded at $5.67. 420,409 shares were traded during trading, a decline of 93% from the average session volume of 6,307,909 shares. The stock had previously closed at $5.28.

Specifically, Director Herman E. Bulls bought 10,000 shares of Fluence Energy stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $5.41 per share, with a total value of $54,100.00. Following the completion of the transaction, the director now owns 115,861 shares in the company, valued at $626,808.01. The trade was a 9.45 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FLNC. UBS Group lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $28.00 to $8.00 in a research report on Wednesday, February 12th. Roth Mkm lowered Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $20.00 to $6.50 in a research note on Wednesday, February 12th. Barclays dropped their target price on shares of Fluence Energy from $22.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, February 12th. Guggenheim downgraded Fluence Energy from a “buy” rating to a “sell” rating and lowered their target price for the stock from $26.00 to $6.00 in a research note on Tuesday, February 11th. Finally, Bank of America downgraded Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $8.00 in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Fluence Energy has an average rating of “Hold” and an average target price of $14.34.

Fluence Energy Stock Up 9.3 %

The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -114.40 and a beta of 2.49. The business has a fifty day moving average price of $11.73 and a two-hundred day moving average price of $16.98. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14.

Fluence Energy (NASDAQ:FLNC) last posted 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 negative net margin of 0.08% and a negative return on equity of 0.36%. On average, equities analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Fluence Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sanders Morris Harris LLC purchased a new position in shares of Fluence Energy during the 4th quarter worth $812,000. Cidel Asset Management Inc. purchased a new stake in shares of Fluence Energy during the 4th quarter valued at approximately $350,000. SG Americas Securities LLC lifted its holdings in Fluence Energy by 79.2% in the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock valued at $776,000 after acquiring an additional 21,597 shares during the last quarter. FMR LLC increased its stake in Fluence Energy by 9.0% during the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after acquiring an additional 132,868 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in shares of Fluence Energy in the 3rd quarter valued at $5,742,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.