Fluence Energy (NASDAQ:FLNC) Stock Price Up 7.4% on Insider Buying Activity

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s share price was up 7.4% on Friday after an insider bought additional shares in the company. The stock traded as high as $5.59 and last traded at $5.67. Approximately 420,409 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 6,307,909 shares. The stock had previously closed at $5.28.

Specifically, Director Herman E. Bulls purchased 10,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $5.41 per share, with a total value of $54,100.00. Following the acquisition, the director now owns 115,861 shares in the company, valued at approximately $626,808.01. This trade represents a 9.45 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

A number of analysts recently weighed in on FLNC shares. Mizuho assumed coverage on shares of Fluence Energy in a report on Wednesday, March 5th. They issued an "outperform" rating and a $8.00 price objective on the stock. Barclays lowered their target price on Fluence Energy from $22.00 to $9.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 12th. Guggenheim lowered Fluence Energy from a "buy" rating to a "sell" rating and reduced their price target for the stock from $26.00 to $6.00 in a research report on Tuesday, February 11th. Roth Mkm lowered Fluence Energy from a "buy" rating to a "neutral" rating and lowered their price target for the company from $20.00 to $6.50 in a report on Wednesday, February 12th. Finally, Robert W. Baird restated a "neutral" rating and set a $20.00 price objective (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Fluence Energy has an average rating of "Hold" and an average target price of $14.34.

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Fluence Energy Price Performance

The firm has a market capitalization of $1.00 billion, a P/E ratio of -110.40 and a beta of 2.49. 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 stock has a 50 day moving average of $11.51 and a two-hundred day moving average of $16.88.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings data 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 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 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors have recently added to or reduced their stakes in FLNC. Vanguard Group Inc. increased its holdings in shares of Fluence Energy by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company's stock valued at $99,287,000 after purchasing an additional 110,256 shares in the last quarter. Zimmer Partners LP boosted its stake in Fluence Energy by 757.7% in the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock worth $34,052,000 after purchasing an additional 1,894,301 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Fluence Energy by 19.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company's stock worth $29,367,000 after buying an additional 296,325 shares during the last quarter. FMR LLC grew its stake in shares of Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company's stock valued at $36,475,000 after buying an additional 132,868 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Fluence Energy by 63.5% in the 4th quarter. Point72 Asset Management L.P. now owns 1,570,550 shares of the company's stock valued at $24,940,000 after acquiring an additional 610,229 shares during the period. 53.16% of the stock is owned by institutional investors and hedge funds.

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.