Insider Buying: Fluence Energy, Inc. (NASDAQ:FLNC) Director Purchases $54,100.00 in Stock

Fluence Energy, Inc. (NASDAQ:FLNC) Director Herman E. Bulls purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $5.41 per share, for a total transaction of $54,100.00. Following the purchase, the director now owns 115,861 shares in the company, valued at $626,808.01. The trade was a 9.45 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Fluence Energy Stock Up 6.1 %

Shares of NASDAQ FLNC opened at $5.60 on Friday. The firm’s 50-day moving average is $11.51 and its 200-day moving average is $16.89. Fluence Energy, Inc. has a 1 year low of $4.78 and a 1 year high of $26.12. The firm has a market capitalization of $1.02 billion, a PE ratio of -112.00 and a beta of 2.49. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share 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%. Equities analysts expect that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE boosted its stake in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares during the last quarter. Altshuler Shaham Ltd bought a new position in Fluence Energy during the 4th quarter worth approximately $34,000. Point72 DIFC Ltd bought a new position in Fluence Energy during the 3rd quarter worth approximately $74,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Fluence Energy in the third quarter valued at approximately $87,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in Fluence Energy in the fourth quarter valued at approximately $79,000. Institutional investors own 53.16% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on FLNC shares. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 price objective (down from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Roth Mkm downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $6.50 in a report on Wednesday, February 12th. Citigroup reduced their price objective on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Canaccord Genuity Group dropped their target price 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. Finally, Bank of America cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $20.00 to $8.00 in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.34.

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.