Insider Buying: Fluence Energy, Inc. (NASDAQ:FLNC) CEO Acquires $149,225.00 in Stock

Fluence Energy, Inc. (NASDAQ:FLNC) CEO Julian Nebreda acquired 23,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $6.35 per share, with a total value of $149,225.00. Following the transaction, the chief executive officer now owns 120,455 shares in the company, valued at $764,889.25. This represents a 24.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Fluence Energy Stock Up 7.4 %

Fluence Energy stock opened at $7.36 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. The company’s 50-day moving average is $13.78 and its 200-day moving average is $17.68. The firm has a market capitalization of $1.34 billion, a PE ratio of -147.20 and a beta of 2.37. Fluence Energy, Inc. has a fifty-two week low of $6.05 and a fifty-two week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. Sell-side analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Institutional Trading of Fluence Energy

A number of hedge funds have recently modified their holdings of the stock. US Bancorp DE lifted 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 worth $38,000 after acquiring an additional 1,475 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in Fluence Energy in the 4th quarter valued at $34,000. CWM LLC grew its holdings in Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares in the last quarter. Point72 DIFC Ltd bought a new position in Fluence Energy during the 3rd quarter worth $74,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Fluence Energy during the 3rd quarter worth $87,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FLNC. Royal Bank of Canada downgraded Fluence Energy from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $25.00 to $7.00 in a report on Wednesday, February 12th. Citigroup lowered their target price on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Barclays cut their price target on Fluence Energy from $22.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, February 12th. Piper Sandler decreased their price objective on Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, BMO Capital Markets lowered Fluence Energy from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $22.00 to $10.00 in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.64.

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.