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

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price gapped up before the market opened on Friday after an insider bought additional shares in the company. 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 acquired 10,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $15.57 per share, with a total value of $155,700.00. Following the completion of the acquisition, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FLNC. BMO Capital Markets increased their target price on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Bank of America dropped their price objective on shares of Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, November 7th. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a report on Friday, November 8th. Jefferies Financial Group began coverage on Fluence Energy in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target for the company. Finally, Robert W. Baird restated a “neutral” rating and set a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Fluence Energy has an average rating of “Moderate Buy” and an average price target of $26.65.

Fluence Energy Trading Up 1.5 %

The company has a market cap of $2.91 billion, a price-to-earnings ratio of 123.38, a PEG ratio of 0.54 and a beta of 2.39. The business’s 50 day moving average price is $19.29 and its 200-day moving average price is $19.01.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The business’s revenue was up 82.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.02 EPS. Equities research analysts forecast that Fluence Energy, Inc. will post 0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. PARK CIRCLE Co bought a new position in Fluence Energy in the 2nd quarter valued at approximately $28,000. US Bancorp DE boosted its position in 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 during the last quarter. CWM LLC raised its position in shares of Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after acquiring an additional 1,767 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Fluence Energy in the 3rd quarter valued at about $74,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Fluence Energy in the third quarter worth approximately $87,000. 53.16% of the stock is currently 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.