Insider Buying: Fluence Energy, Inc. (NASDAQ:FLNC) Director Acquires 10,000 Shares of Stock

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) Director Herman E. Bulls purchased 10,000 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $5.41 per share, with a total value of $54,100.00. Following the completion of the acquisition, the director now directly owns 115,861 shares in the company, valued at $626,808.01. The trade was a 9.45 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Fluence Energy Stock Up 6.1 %

Shares of FLNC stock traded up $0.32 during trading hours on Friday, hitting $5.60. 6,628,113 shares of the company were exchanged, compared to its average volume of 6,456,630. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. Fluence Energy, Inc. has a one year low of $4.78 and a one year high of $26.12. The business's 50-day simple moving average is $11.51 and its two-hundred day simple moving average is $16.88. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -112.00 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly 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%. Sell-side analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

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Institutional Investors Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Fluence Energy by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company's stock worth $99,287,000 after acquiring an additional 110,256 shares during the period. Zimmer Partners LP raised its stake in Fluence Energy by 757.7% during the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock worth $34,052,000 after acquiring an additional 1,894,301 shares during the period. Clearbridge Investments LLC raised its stake in Fluence Energy by 19.1% during the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company's stock worth $29,367,000 after acquiring an additional 296,325 shares during the period. FMR LLC raised 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 period. Finally, Point72 Asset Management L.P. raised its stake in Fluence Energy by 63.5% during the fourth quarter. Point72 Asset Management L.P. now owns 1,570,550 shares of the company's stock worth $24,940,000 after acquiring an additional 610,229 shares during the period. Institutional investors and hedge funds own 53.16% of the company's stock.

Wall Street Analysts Forecast Growth

FLNC has been the subject of a number of research analyst reports. Roth Capital downgraded Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 12th. Canaccord Genuity Group decreased their price target on shares of Fluence Energy from $34.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. Robert W. Baird reaffirmed a "neutral" rating and set a $20.00 price target (down from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. BMO Capital Markets cut shares of Fluence Energy from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $22.00 to $10.00 in a research report on Tuesday, February 11th. Finally, Roth Mkm cut shares of Fluence Energy from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $20.00 to $6.50 in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock 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.