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

Fluence Energy, Inc. (NASDAQ:FLNC) shares gapped up before the market opened on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $7.27, but opened at $7.52. Fluence Energy shares last traded at $7.5090, with a volume of 1,777,270 shares changing hands.

Specifically, Director Harald von Heynitz bought 7,000 shares of Fluence Energy stock in a transaction dated Monday, September 21st. The shares were purchased at an average cost of $7.36 per share, with a total value of $51,520.00. Following the completion of the acquisition, the director owned 65,550 shares of the company’s stock, valued at $482,448. This trade represents a 11.96% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herman Bulls acquired 10,000 shares of Fluence Energy stock in a transaction on Monday, September 21st. The stock was purchased at an average cost of $7.36 per share, for a total transaction of $73,600.00. Following the purchase, the director owned 169,550 shares in the company, valued at approximately $1,247,888. The trade was a 6.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FLNC shares. Roth Capital set a $18.00 price target on Fluence Energy in a research report on Friday, August 7th. Needham & Company LLC reiterated a “hold” rating on shares of Fluence Energy in a report on Thursday, September 17th. The Goldman Sachs Group downgraded Fluence Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $22.00 to $9.00 in a research report on Thursday, September 17th. Royal Bank Of Canada lowered their price target on Fluence Energy from $15.00 to $4.00 and set a “sector perform” rating for the company in a research report on Thursday, September 17th. Finally, Glj Research downgraded shares of Fluence Energy from a “buy” rating to a “hold” rating and reduced their target price for the company from $26.00 to $12.89 in a research note on Thursday, August 20th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, Fluence Energy has a consensus rating of “Reduce” and an average price target of $12.42.

Fluence Energy Stock Performance

The company has a quick ratio of 0.89, a current ratio of 1.34 and a debt-to-equity ratio of 0.91. The firm has a 50 day moving average of $11.86 and a 200-day moving average of $15.80. The company has a market cap of $1.39 billion, a P/E ratio of -12.27 and a beta of 2.74.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.24) earnings per share (EPS) for the quarter. The firm had revenue of $649.85 million for the quarter, compared to the consensus estimate of $818.57 million. Fluence Energy had a negative return on equity of 16.79% and a negative net margin of 3.13%.Fluence Energy’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.01 EPS. As a group, sell-side analysts anticipate that Fluence Energy, Inc. will post -1.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Fluence Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC boosted its position in Fluence Energy by 126.7% during the 2nd quarter. Tidal Investments LLC now owns 207,694 shares of the company’s stock valued at $4,129,000 after acquiring an additional 116,064 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Fluence Energy during the second quarter valued at about $94,000. Maven Securities LTD purchased a new position in Fluence Energy in the second quarter valued at about $398,000. IFP Advisors Inc raised its holdings in Fluence Energy by 184.1% in the second quarter. IFP Advisors Inc now owns 1,540 shares of the company’s stock worth $31,000 after purchasing an additional 998 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in Fluence Energy by 0.6% in the second quarter. Squarepoint Ops LLC now owns 268,318 shares of the company’s stock worth $5,334,000 after purchasing an additional 1,707 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors.

Fluence Energy Company Profile

Fluence Energy, Inc is a global energy storage and software company that develops solutions to support the transition to cleaner and more reliable electricity systems. The company provides products and services for utilities, renewable energy developers, commercial and industrial customers, and other power market participants.

Its offerings include large-scale battery energy storage systems, renewable energy integration solutions, and digital applications for managing and optimizing energy assets.