Fluence Energy, Inc. (NASDAQ:FLNC) CEO Buys $149,225.00 in Stock

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) CEO Julian Nebreda bought 23,500 shares of the stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $6.35 per share, for a total transaction of $149,225.00. Following the completion of the transaction, the chief executive officer now owns 120,455 shares of the company's stock, valued at approximately $764,889.25. The trade was a 24.24 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Fluence Energy Price Performance

Shares of Fluence Energy stock traded down $0.42 on Friday, hitting $6.94. The company's stock had a trading volume of 7,610,429 shares, compared to its average volume of 6,625,824. Fluence Energy, Inc. has a 52-week low of $6.05 and a 52-week high of $26.12. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. The firm has a fifty day moving average price of $13.58 and a 200-day moving average price of $17.63. The company has a market capitalization of $1.26 billion, a P/E ratio of -138.80 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings data 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%. On average, equities research analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group lowered their target price on shares of Fluence Energy from $34.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Piper Sandler dropped their price objective on shares of Fluence Energy from $20.00 to $10.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Jefferies Financial Group cut shares of Fluence Energy from a "buy" rating to a "hold" rating and dropped their price objective for the company from $22.00 to $15.00 in a research note on Wednesday, January 22nd. Bank of America cut shares of Fluence Energy from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $20.00 to $8.00 in a research note on Thursday, February 13th. Finally, Wolfe Research cut shares of Fluence Energy from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $14.64.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Zimmer Partners LP lifted its holdings in Fluence Energy by 757.7% in the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock valued at $34,052,000 after purchasing an additional 1,894,301 shares in the last quarter. Erste Asset Management GmbH purchased a new position in Fluence Energy in the 3rd quarter valued at about $22,059,000. Point72 Asset Management L.P. purchased a new position in Fluence Energy in the 3rd quarter valued at about $21,809,000. Webs Creek Capital Management LP purchased a new position in Fluence Energy in the 4th quarter valued at about $15,118,000. Finally, Covalis Capital LLP purchased a new position in Fluence Energy in the 4th quarter valued at about $12,113,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

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.