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

Fluence Energy, Inc. (NASDAQ:FLNC) gapped up prior to trading 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.

Specifically, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the acquisition, the director now owns 75,861 shares in the company, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Susquehanna raised their price objective on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research note on Wednesday, October 16th. Jefferies Financial Group assumed coverage on shares of Fluence Energy in a research report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price objective for the company. Bank of America cut their target price on Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Canaccord Genuity Group dropped their price target on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Finally, Truist Financial upped their price objective on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.65.

Fluence Energy Price Performance

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

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results 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. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm posted $0.02 earnings per share. The business’s quarterly revenue 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

Several hedge funds and other institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC raised its stake in Fluence Energy by 3.8% in the second quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock valued at $420,000 after purchasing an additional 897 shares in the last quarter. US Bancorp DE increased its stake in Fluence Energy by 676.6% in 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. Blue Trust Inc. lifted its position in Fluence Energy by 45.3% in the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after buying an additional 1,502 shares during the last quarter. PARK CIRCLE Co purchased a new position in Fluence Energy in the 2nd quarter worth $28,000. Finally, CWM LLC boosted its holdings in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after acquiring an additional 1,767 shares during the period. Hedge funds and other institutional investors own 53.16% of the company’s stock.

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.