Fluence Energy (NASDAQ:FLNC) Stock Price Up 6.5% – Here’s What Happened

Fluence Energy, Inc. (NASDAQ:FLNC) shares traded up 6.5% on Thursday . The company traded as high as $7.29 and last traded at $7.30. 4,293,209 shares were traded during mid-day trading, a decline of 33% from the average session volume of 6,452,442 shares. The stock had previously closed at $6.85.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FLNC shares. Barclays reduced their target price on Fluence Energy from $22.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 12th. Wolfe Research cut Fluence Energy from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 12th. Canaccord Genuity Group dropped their price objective on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Roth Capital cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, Roth Mkm cut Fluence Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $6.50 in a research note on Wednesday, February 12th. One 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.com, the stock currently has an average rating of “Hold” and an average price target of $14.64.

Fluence Energy Stock Down 5.7 %

The stock has a 50-day moving average of $13.58 and a 200 day moving average of $17.63. The company has a market cap of $1.26 billion, a P/E ratio of -138.80 and a beta of 2.37. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14.

Fluence Energy (NASDAQ:FLNC) last issued 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 negative return on equity of 0.36% and a negative net margin of 0.08%. Research analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of $15.57 per share, with a total value of $155,700.00. Following the acquisition, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. The trade was a 15.18 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Ahmed Pasha acquired 15,500 shares of Fluence Energy stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average price of $6.48 per share, for a total transaction of $100,440.00. Following the transaction, 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. Insiders have purchased 79,000 shares of company stock worth $601,265 over the last quarter. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Several hedge funds have recently added to or reduced their stakes in FLNC. Sanders Morris Harris LLC bought a new stake in shares of Fluence Energy in the 4th quarter valued at about $812,000. Cidel Asset Management Inc. bought a new stake in Fluence Energy in the fourth quarter valued at approximately $350,000. SG Americas Securities LLC raised its holdings in Fluence Energy by 79.2% during the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock worth $776,000 after purchasing an additional 21,597 shares during the last quarter. FMR LLC lifted its position in shares of Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after purchasing an additional 132,868 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in shares of Fluence Energy in the 3rd quarter valued at $5,742,000. 53.16% of the stock is currently 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.