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

Fluence Energy, Inc. (NASDAQ:FLNC) gapped up prior to trading on Friday following insider buying activity. The stock had previously closed at $15.80, but opened at $16.18. Fluence Energy shares last traded at $16.43, with a volume of 403,282 shares.

Specifically, Director Herman E. Bulls bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the transaction, the director now owns 75,861 shares in the company, valued at $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

FLNC has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on shares of Fluence Energy in a report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 target price on the stock. Susquehanna upped their target price on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Canaccord Genuity Group dropped their price objective on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Truist Financial lifted their target price on Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets increased their price objective on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.65.

Fluence Energy Trading Up 2.8 %

The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 124.92, a PEG ratio of 0.54 and a beta of 2.39. The stock has a 50-day moving average price of $19.09 and a 200 day moving average price of $18.94.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the business posted $0.02 earnings per share. The firm’s revenue for the quarter was up 82.5% on a year-over-year basis. Equities research analysts anticipate that Fluence Energy, Inc. will post 0.56 earnings per share for the current year.

Institutional Trading of Fluence Energy

Several large investors have recently made changes to their positions in the company. PARK CIRCLE Co acquired a new position in Fluence Energy in the second quarter valued at approximately $28,000. US Bancorp DE increased its holdings 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 purchasing an additional 1,475 shares during the period. CWM LLC raised its holdings in Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after acquiring an additional 1,767 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Fluence Energy in the 3rd quarter valued at $74,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Fluence Energy during the 3rd quarter worth about $87,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

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.