Insider Buying: Fluence Energy, Inc. (NASDAQ:FLNC) Director Purchases $168,100.00 in Stock

Fluence Energy, Inc. (NASDAQ:FLNC) Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average cost of $16.81 per share, with a total value of $168,100.00. Following the completion of the acquisition, the director now owns 65,861 shares of the company’s stock, valued at approximately $1,107,123.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Fluence Energy Stock Down 1.1 %

FLNC stock opened at $17.24 on Friday. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -44.21 and a beta of 2.50. The business has a fifty day simple moving average of $17.50 and a 200-day simple moving average of $17.88. Fluence Energy, Inc. has a 52 week low of $12.74 and a 52 week high of $28.14.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FLNC shares. Truist Financial initiated coverage on Fluence Energy in a research report on Wednesday, July 10th. They issued a “buy” rating and a $25.00 price target for the company. Royal Bank of Canada upgraded shares of Fluence Energy to a “moderate buy” rating in a research report on Friday, August 9th. Evercore ISI lowered their price target on shares of Fluence Energy from $59.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Barclays cut their price objective on Fluence Energy from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Finally, Roth Mkm reiterated a “buy” rating and set a $27.00 target price (down previously from $31.00) on shares of Fluence Energy in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.67.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLNC. Handelsbanken Fonder AB grew its holdings in shares of Fluence Energy by 145.5% during the 4th quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock worth $68,689,000 after purchasing an additional 1,706,808 shares during the period. Vanguard Group Inc. increased its position in shares of Fluence Energy by 41.0% in the fourth quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock worth $131,685,000 after acquiring an additional 1,605,345 shares in the last quarter. Lazard Freres Gestion S.A.S. purchased a new position in shares of Fluence Energy in the 2nd quarter valued at $26,877,000. Clean Energy Transition LLP acquired a new position in shares of Fluence Energy during the 4th quarter valued at $32,124,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Fluence Energy by 1,355.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company’s stock valued at $17,758,000 after buying an additional 953,761 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.