Insider Buying: Fluence Energy, Inc. (NASDAQ:FLNC) Director Buys $155,700.00 in Stock

Fluence Energy, Inc. (NASDAQ:FLNC) Director Herman E. Bulls bought 10,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the purchase, the director now directly owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Fluence Energy Stock Performance

Fluence Energy stock opened at $16.24 on Friday. The firm has a market capitalization of $2.94 billion, a P/E ratio of 124.92, a P/E/G ratio of 0.54 and a beta of 2.39. The company has a 50-day simple moving average of $19.09 and a 200-day simple moving average of $18.92. Fluence Energy, Inc. has a one year low of $12.74 and a one year high of $26.12.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.23 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. Fluence Energy’s revenue was up 82.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.02 earnings per share. As a group, sell-side analysts forecast that Fluence Energy, Inc. will post 0.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FLNC. Canaccord Genuity Group lowered their price objective on Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Piper Sandler lifted their price target on shares of Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Guggenheim reaffirmed a “buy” rating and issued a $26.00 price target on shares of Fluence Energy in a report on Friday, December 6th. BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a research report on Friday, November 8th. Finally, Bank of America reduced their price target on shares of Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.65.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FLNC. Bank of New York Mellon Corp raised its stake in shares of Fluence Energy by 19.6% during the second quarter. Bank of New York Mellon Corp now owns 217,709 shares of the company’s stock valued at $3,775,000 after purchasing an additional 35,701 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Fluence Energy by 305.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 30,952 shares of the company’s stock valued at $537,000 after acquiring an additional 23,319 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Fluence Energy by 1,355.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company’s stock valued at $17,758,000 after acquiring an additional 953,761 shares during the period. Banque Cantonale Vaudoise raised its holdings in Fluence Energy by 148.5% during the second quarter. Banque Cantonale Vaudoise now owns 26,280 shares of the company’s stock worth $455,000 after purchasing an additional 15,704 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in Fluence Energy in the second quarter worth approximately $109,000. 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.