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 following insider buying activity. 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 traded.

Specifically, Director Herman E. Bulls purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased 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 directly owns 75,861 shares in the company, 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 filing with the SEC, which is accessible through this link.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Fluence Energy in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price objective for the company. Truist Financial increased their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bank of America lowered their price objective on Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Susquehanna boosted their target price on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $20.00 price target (down from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Fluence Energy has a consensus rating of “Moderate Buy” and a consensus target price of $26.65.

Fluence Energy Stock Performance

The company has a 50-day moving average of $19.18 and a 200-day moving average of $18.99. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 124.92, a P/E/G ratio of 0.54 and a beta of 2.39.

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 analysts’ consensus estimates of $0.23 by $0.11. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The business’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 earnings per share. As a group, analysts expect that Fluence Energy, Inc. will post 0.56 earnings per share for the current year.

Institutional Investors Weigh In On Fluence Energy

Hedge funds have recently modified their holdings of the company. FMR LLC raised its position in shares of Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after buying an additional 132,868 shares during the last quarter. Erste Asset Management GmbH acquired a new position in Fluence Energy in the 3rd quarter valued at $22,059,000. XTX Topco Ltd purchased a new position in shares of Fluence Energy during the 3rd quarter worth $825,000. Nicola Wealth Management LTD. boosted its holdings 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 last quarter. Finally, Barclays PLC grew its position in shares of 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 period. 53.16% of the stock is 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.