Fluence Energy (NASDAQ:FLNC) Shares Gap Up Following Insider Buying Activity

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) shares gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $15.80, but opened at $16.18. Fluence Energy shares last traded at $16.43, with a volume of 403,282 shares changing hands.

Specifically, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost of $15.57 per share, with a total value of $155,700.00. Following the acquisition, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FLNC shares. Truist Financial boosted their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Royal Bank of Canada cut their price target on Fluence Energy from $28.00 to $27.00 and set an "outperform" rating for the company in a report on Wednesday, November 27th. Baird R W downgraded Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Jefferies Financial Group initiated coverage on Fluence Energy in a research report on Wednesday, September 4th. They set a "buy" rating and a $26.00 price objective on the stock. Finally, BNP Paribas raised Fluence Energy from an "underperform" rating to a "neutral" rating and set a $22.00 target price for the company in a research report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $26.65.

Fluence Energy Price Performance

The business has a 50 day simple moving average of $19.18 and a 200 day simple moving average of $18.99. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 124.92, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.11. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The firm's quarterly revenue was up 82.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS. As a group, sell-side analysts anticipate that Fluence Energy, Inc. will post 0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB increased its stake in shares of Fluence Energy by 47.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company's stock valued at $144,800,000 after buying an additional 2,047,063 shares during the period. FMR LLC increased its position in Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company's stock worth $36,475,000 after purchasing an additional 132,868 shares during the period. Geode Capital Management LLC raised its holdings in Fluence Energy by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company's stock worth $34,253,000 after purchasing an additional 60,633 shares during the last quarter. Clearbridge Investments LLC lifted its position in Fluence Energy by 1.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company's stock valued at $26,025,000 after purchasing an additional 23,927 shares during the period. Finally, Erste Asset Management GmbH bought a new position in shares of Fluence Energy in the 3rd quarter valued at about $22,059,000. Institutional investors 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.