Insider Buying: Fluence Energy, Inc. (NASDAQ:FLNC) CEO Buys 23,500 Shares of Stock

Fluence Energy, Inc. (NASDAQ:FLNC) CEO Julian Nebreda purchased 23,500 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was purchased at an average price of $6.35 per share, for a total transaction of $149,225.00. Following the completion of the acquisition, the chief executive officer now owns 120,455 shares of the company’s stock, valued at approximately $764,889.25. This represents a 24.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Fluence Energy Trading Up 9.3 %

Fluence Energy stock opened at $7.03 on Wednesday. Fluence Energy, Inc. has a 12 month low of $6.05 and a 12 month high of $26.12. The stock’s 50 day moving average is $14.36 and its 200-day moving average is $17.88. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 54.08, a PEG ratio of 0.49 and a beta of 2.37.

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

Analysts Set New Price Targets

FLNC has been the topic of several analyst reports. Canaccord Genuity Group dropped their target price on Fluence Energy from $34.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Wolfe Research lowered Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 12th. Susquehanna dropped their target price on Fluence Energy from $23.00 to $10.00 and set a “positive” rating on the stock in a report on Wednesday, February 12th. Baird R W lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Truist Financial dropped their target price on Fluence Energy from $28.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. 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 stock. Based on data from MarketBeat.com, Fluence Energy has a consensus rating of “Hold” and a consensus target price of $14.64.

Institutional Investors Weigh In On Fluence Energy

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