Fluence Energy, Inc. (NASDAQ:FLNC) Director Purchases $195,900.00 in Stock

Fluence Energy, Inc. (NASDAQ:FLNC) Director Herman E. Bulls acquired 30,000 shares of Fluence Energy stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $6.53 per share, for a total transaction 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 approximately $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.

Fluence Energy Stock Performance

FLNC stock opened at $6.43 on Monday. The firm has a 50 day moving average price of $14.60 and a 200-day moving average price of $17.95. Fluence Energy, Inc. has a 52-week low of $6.05 and a 52-week high of $26.12. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 49.46, a PEG ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last released its 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 forecast that Fluence Energy, Inc. will post 0.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FLNC. Royal Bank of Canada cut Fluence Energy from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $25.00 to $7.00 in a research note on Wednesday, February 12th. Guggenheim cut Fluence Energy from a “buy” rating to a “sell” rating and reduced their price objective for the company from $26.00 to $6.00 in a research note on Tuesday, February 11th. Roth Capital cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. BMO Capital Markets lowered shares of Fluence Energy from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $22.00 to $10.00 in a report on Tuesday, February 11th. Finally, BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Fluence Energy currently has a consensus rating of “Hold” and an average price target of $14.64.

Institutional Investors Weigh In On Fluence Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE increased its position in shares of Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after acquiring an additional 1,475 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in shares of Fluence Energy during the fourth quarter valued at approximately $34,000. CWM LLC increased its position in shares of Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after acquiring an additional 1,767 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Fluence Energy during the third quarter valued at approximately $74,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fluence Energy during the third quarter valued at approximately $87,000. 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.