Fluence Energy (NASDAQ:FLNC) Shares Up 8.5% After Insider Buying Activity

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s stock price rose 8.5% on Friday following insider buying activity. The company traded as high as $6.87 and last traded at $6.71. Approximately 3,669,419 shares were traded during trading, a decline of 41% from the average daily volume of 6,184,579 shares. The stock had previously closed at $6.18.

Specifically, Director Herman E. Bulls purchased 30,000 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $6.53 per share, with a total value of $195,900.00. Following the completion of the purchase, the director now directly owns 105,861 shares of the company's stock, valued at $691,272.33. The trade was a 39.55 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FLNC shares. Baird R W lowered shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Truist Financial cut their price target on Fluence Energy from $28.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. The Goldman Sachs Group decreased their price objective on Fluence Energy from $26.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. UBS Group lowered Fluence Energy from a "buy" rating to a "neutral" rating and cut their target price for the company from $28.00 to $8.00 in a research note on Wednesday, February 12th. Finally, Wolfe Research lowered Fluence Energy from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $14.64.

Fluence Energy Trading Up 9.3 %

The company has a 50 day simple moving average of $14.36 and a 200 day simple moving average of $17.88. The stock has a market cap of $1.27 billion, a P/E ratio of 54.08, a PEG ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings results 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 net margin of 0.89% and a return on equity of 4.10%. As a group, sell-side analysts expect that Fluence Energy, Inc. will post 0.48 earnings per share for the current year.

Institutional Trading of Fluence Energy

A number of hedge funds and other institutional investors have recently modified their holdings of FLNC. Zimmer Partners LP grew its stake in Fluence Energy by 757.7% in the fourth 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 acquired a new stake in shares of Fluence Energy during the 3rd quarter worth about $22,059,000. Point72 Asset Management L.P. bought a new stake in shares of Fluence Energy during the third quarter worth approximately $21,809,000. Webs Creek Capital Management LP acquired a new stake in Fluence Energy during the 4th quarter worth approximately $15,118,000. Finally, Covalis Capital LLP bought a new stake in Fluence Energy in the 4th quarter valued at $12,113,000. Institutional investors and hedge funds own 53.16% of the company's stock.

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.