Insider Buying: Fluence Energy, Inc. (NASDAQ:FLNC) Director Acquires 10,000 Shares of Stock

Fluence Energy, Inc. (NASDAQ:FLNC) Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the purchase, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Fluence Energy Price Performance

FLNC opened at $16.24 on Friday. The company’s 50 day simple moving average is $19.09 and its 200-day simple moving average is $18.92. Fluence Energy, Inc. has a one year low of $12.74 and a one year high of $26.12. The stock has a market capitalization of $2.94 billion, a P/E ratio of 124.92, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the firm earned $0.02 EPS. The business’s revenue for the quarter was up 82.5% on a year-over-year basis. As a group, analysts anticipate that Fluence Energy, Inc. will post 0.56 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Fluence Energy by 9.0% during the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after buying an additional 132,868 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Fluence Energy in the 3rd quarter valued at $22,059,000. XTX Topco Ltd bought a new position in shares of Fluence Energy in the 3rd quarter worth $825,000. Nicola Wealth Management LTD. grew its stake in shares of Fluence Energy by 62.0% during the third quarter. Nicola Wealth Management LTD. now owns 81,000 shares of the company’s stock worth $1,840,000 after purchasing an additional 31,000 shares during the period. Finally, Barclays PLC increased its holdings in Fluence Energy by 296.8% in the third quarter. Barclays PLC now owns 181,766 shares of the company’s stock valued at $4,127,000 after purchasing an additional 135,957 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on FLNC shares. Royal Bank of Canada dropped their price target on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Bank of America reduced their target price on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, November 7th. BMO Capital Markets lifted their price target on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Canaccord Genuity Group cut their target price on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Finally, Truist Financial upped their target price on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.65.

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.