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

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $6.43, but opened at $6.78. Fluence Energy shares last traded at $6.97, with a volume of 2,178,046 shares trading hands.

Specifically, CEO Julian Nebreda bought 23,500 shares of the stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $6.35 per share, for a total transaction of $149,225.00. Following the completion of the purchase, the chief executive officer now directly owns 120,455 shares of the company’s stock, valued at approximately $764,889.25. The trade was a 24.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Ahmed Pasha acquired 15,500 shares of the company’s stock in a transaction on Friday, February 14th. The shares were acquired at an average price of $6.48 per share, for a total transaction of $100,440.00. Following the completion of the acquisition, the chief financial officer now directly owns 24,703 shares in the company, valued at $160,075.44. The trade was a 168.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In related news, Director Herman E. Bulls purchased 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average price of $6.53 per share, for a total transaction of $195,900.00. Following the completion of the purchase, the director now owns 105,861 shares in the company, valued at approximately $691,272.33. This represents a 39.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

Several analysts have issued reports on FLNC shares. Bank of America cut Fluence Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $8.00 in a research note on Thursday, February 13th. Truist Financial dropped their price target on Fluence Energy from $28.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Susquehanna decreased their price objective on shares of Fluence Energy from $23.00 to $10.00 and set a “positive” rating for the company in a report on Wednesday, February 12th. BMO Capital Markets cut shares of Fluence Energy from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $22.00 to $10.00 in a report on Tuesday, February 11th. Finally, Robert W. Baird restated a “neutral” rating and issued a $20.00 price target (down from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.64.

Fluence Energy Stock Up 9.3 %

The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 54.08, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The company’s fifty day moving average is $14.36 and its two-hundred day moving average is $17.88.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. On average, equities research analysts expect that Fluence Energy, Inc. will post 0.48 EPS for the current year.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zimmer Partners LP increased its stake in Fluence Energy by 757.7% in the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock valued at $34,052,000 after buying an additional 1,894,301 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Fluence Energy in the 3rd quarter valued at about $22,059,000. Point72 Asset Management L.P. acquired a new stake in shares of Fluence Energy in the third quarter valued at about $21,809,000. Webs Creek Capital Management LP acquired a new stake in shares of Fluence Energy in the fourth quarter valued at about $15,118,000. Finally, Covalis Capital LLP bought a new stake in Fluence Energy during the fourth quarter worth about $12,113,000. 53.16% of the stock is owned by institutional investors and hedge funds.

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.