Fluence Energy, Inc. (NASDAQ:FLNC) CFO Ahmed Pasha Buys 15,500 Shares

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) CFO Ahmed Pasha acquired 15,500 shares of the business's stock in a transaction dated Friday, February 14th. The shares were bought at an average price of $6.48 per share, for a total transaction of $100,440.00. Following the completion of the acquisition, the chief financial officer now owns 24,703 shares in the company, valued at approximately $160,075.44. This trade represents a 168.42 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Fluence Energy Stock Down 5.7 %

Shares of FLNC stock traded down $0.42 during mid-day trading on Friday, reaching $6.94. 7,610,429 shares of the company were exchanged, compared to its average volume of 6,625,824. Fluence Energy, Inc. has a fifty-two week low of $6.05 and a fifty-two week high of $26.12. 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 company has a market capitalization of $1.26 billion, a P/E ratio of -138.80 and a beta of 2.37. The business's 50 day simple moving average is $13.58 and its 200 day simple moving average is $17.63.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings results 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 return on equity of 0.36% and a negative net margin of 0.08%. Research analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Fluence Energy

Large investors have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in Fluence Energy during the fourth quarter worth $34,000. US Bancorp DE lifted its stake in 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 purchasing an additional 1,475 shares during the last quarter. CWM LLC lifted its stake in Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company's stock worth $65,000 after purchasing an additional 1,767 shares during the last quarter. Point72 DIFC Ltd bought a new position in Fluence Energy during the third quarter worth $74,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in Fluence Energy during the fourth quarter worth $79,000. 53.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of Fluence Energy from $28.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. Bank of America downgraded shares of Fluence Energy from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $20.00 to $8.00 in a research report on Thursday, February 13th. Robert W. Baird reissued a "neutral" rating and set a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. UBS Group downgraded shares of Fluence Energy from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $28.00 to $8.00 in a research report on Wednesday, February 12th. Finally, Roth Capital downgraded shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price 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.