Fluence Energy (NASDAQ:FLNC) Stock Price Up 6.5% - Here's What Happened

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s share price traded up 6.5% on Thursday . The stock traded as high as $7.29 and last traded at $7.30. 4,293,209 shares were traded during mid-day trading, a decline of 33% from the average session volume of 6,452,442 shares. The stock had previously closed at $6.85.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Susquehanna lowered their price target on shares of Fluence Energy from $23.00 to $10.00 and set a "positive" rating on the stock in a report on Wednesday, February 12th. UBS Group cut shares of Fluence Energy from a "buy" rating to a "neutral" rating and lowered their price target for the company from $28.00 to $8.00 in a report on Wednesday, February 12th. Wolfe Research cut shares of Fluence Energy from an "outperform" rating to a "peer perform" rating in a report on Wednesday, February 12th. Citigroup lowered their price target on shares of Fluence Energy from $24.00 to $10.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Finally, Canaccord Genuity Group decreased 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. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Fluence Energy has a consensus rating of "Hold" and an average target price of $14.64.

Fluence Energy Price Performance

The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -138.80 and a beta of 2.37. The business's 50-day simple moving average is $13.58 and its two-hundred day simple moving average is $17.63.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. Research analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In other Fluence Energy news, CFO Ahmed Pasha purchased 15,500 shares of the company's stock in a transaction dated Friday, February 14th. The stock was purchased at an average price of $6.48 per share, with a total value of $100,440.00. Following the completion of the purchase, the chief financial officer now owns 24,703 shares of the company's stock, valued at approximately $160,075.44. The trade was a 168.42 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Herman E. Bulls purchased 30,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $6.53 per share, with a total value of $195,900.00. Following the purchase, the director now directly owns 105,861 shares of the company's stock, valued at approximately $691,272.33. The trade was a 39.55 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 79,000 shares of company stock valued at $601,265. Insiders own 0.65% of the company's stock.

Hedge Funds Weigh In On Fluence Energy

Hedge funds have recently bought and sold shares of the company. Duff & Phelps Investment Management Co. grew its holdings in Fluence Energy by 5.6% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company's stock worth $432,000 after purchasing an additional 1,432 shares during the period. US Bancorp DE grew its holdings in Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company's stock worth $38,000 after purchasing an additional 1,475 shares during the period. Lazard Freres Gestion S.A.S. grew its holdings in Fluence Energy by 7.3% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company's stock worth $352,000 after purchasing an additional 1,500 shares during the period. Blue Trust Inc. grew its holdings in Fluence Energy by 45.3% in the third quarter. Blue Trust Inc. now owns 4,821 shares of the company's stock worth $109,000 after purchasing an additional 1,502 shares during the period. Finally, KBC Group NV grew its holdings in Fluence Energy by 1.6% in the fourth quarter. KBC Group NV now owns 108,296 shares of the company's stock worth $1,720,000 after purchasing an additional 1,671 shares during the period. Institutional investors 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.