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

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price gapped up prior to trading on Wednesday following insider buying activity. 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 trading hands.

Specifically, Director Harald von Heynitz acquired 7,000 shares of Fluence Energy stock in a transaction that occurred on Monday, September 21st. The stock was purchased at an average price of $7.36 per share, for a total transaction of $51,520.00. Following the purchase, the director directly owned 65,550 shares in the company, valued at $482,448. The trade was a 11.96% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Herman Bulls acquired 10,000 shares of the stock in a transaction dated Monday, September 21st. The stock was acquired at an average cost of $7.36 per share, with a total value of $73,600.00. Following the transaction, the director directly owned 169,550 shares in the company, valued at approximately $1,247,888. This represents a 6.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FLNC. Barclays downgraded shares of Fluence Energy from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $16.00 to $10.00 in a research report on Thursday, September 3rd. Robert W. Baird reiterated an “underperform” rating and issued a $3.00 price objective (down from $10.00) on shares of Fluence Energy in a research report on Thursday, September 17th. Weiss Ratings upgraded Fluence Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Mizuho decreased their price objective on Fluence Energy from $8.00 to $6.00 and set an “underperform” rating on the stock in a report on Monday. Finally, Canaccord Genuity Group dropped their target price on shares of Fluence Energy from $24.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, September 17th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $12.42.

Fluence Energy Trading Up 3.4%

The business’s 50-day simple moving average is $11.86 and its two-hundred day simple moving average is $15.80. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -12.27 and a beta of 2.74. The company has a quick ratio of 0.89, a current ratio of 1.34 and a debt-to-equity ratio of 0.91.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Wednesday, August 5th. The company reported ($0.24) earnings per share for the quarter. The company had revenue of $649.85 million during the quarter, compared to analyst estimates of $818.57 million. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $0.01 EPS. Equities analysts forecast that Fluence Energy, Inc. will post -1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc lifted its stake in Fluence Energy by 184.1% during the 2nd quarter. IFP Advisors Inc now owns 1,540 shares of the company’s stock worth $31,000 after acquiring an additional 998 shares in the last quarter. Curio Wealth LLC acquired a new stake in shares of Fluence Energy during the fourth quarter worth about $31,000. Sankala Group LLC purchased a new position in shares of Fluence Energy in the fourth quarter valued at approximately $51,000. EverSource Wealth Advisors LLC grew its holdings in shares of Fluence Energy by 31.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company’s stock valued at $38,000 after purchasing an additional 672 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Fluence Energy by 415.3% in the second quarter. Allworth Financial LP now owns 3,056 shares of the company’s stock valued at $61,000 after purchasing an additional 2,463 shares in the last quarter. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

About Fluence Energy

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.