Insider Buying: Fluence Energy (NASDAQ:FLNC) Director Purchases 7,000 Shares

Fluence Energy, Inc. (NASDAQ:FLNC – Get Free Report) Director Harald von Heynitz bought 7,000 shares of the company’s stock in a transaction on Monday, September 21st. The shares were acquired at an average price of $7.36 per share, for a total transaction of $51,520.00. Following the completion of the acquisition, the director owned 65,550 shares in the company, valued at $482,448. This represents a 11.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Fluence Energy Stock Down 1.6%

Shares of NASDAQ:FLNC traded down $0.12 during trading hours on Tuesday, hitting $7.27. The company’s stock had a trading volume of 8,135,568 shares, compared to its average volume of 8,118,209. Fluence Energy, Inc. has a 52 week low of $7.01 and a 52 week high of $33.51. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.34 and a quick ratio of 0.89. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -11.92 and a beta of 2.74. The firm’s fifty day moving average price is $12.03 and its 200 day moving average price is $15.86.

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Fluence Energy (NASDAQ:FLNC – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.24) earnings per share (EPS) for the quarter. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The business had revenue of $649.85 million for the quarter, compared to the consensus estimate of $818.57 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. Fluence Energy’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, research analysts expect that Fluence Energy, Inc. will post -1.03 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on FLNC. BMO Capital Markets dropped their target price on Fluence Energy from $14.00 to $7.00 and set a “market perform” rating on the stock in a research report on Thursday, September 17th. Royal Bank Of Canada reduced their price target on Fluence Energy from $15.00 to $4.00 and set a “sector perform” rating for the company in a research report on Thursday, September 17th. BNP Paribas Exane decreased their price objective on Fluence Energy from $8.00 to $5.00 and set an “underperform” rating for the company in a research note on Thursday, September 17th. Canaccord Genuity Group dropped their price objective on Fluence Energy from $24.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, September 17th. Finally, Roth Capital set a $18.00 target price on Fluence Energy in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and seven have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $12.42.

Check Out Our Latest Report on Fluence Energy

Hedge Funds Weigh In On Fluence Energy

Large investors have recently made changes to their positions in the business. Bank of America Corp DE grew its stake in Fluence Energy by 24.4% during the 1st quarter. Bank of America Corp DE now owns 3,085,730 shares of the company’s stock worth $42,460,000 after buying an additional 604,983 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Fluence Energy during the first quarter worth about $19,579,000. First Trust Advisors LP increased its holdings in shares of Fluence Energy by 55.4% during the first quarter. First Trust Advisors LP now owns 1,131,468 shares of the company’s stock valued at $15,569,000 after acquiring an additional 403,199 shares in the last quarter. Legal & General Group Plc raised its position in shares of Fluence Energy by 882.1% in the 4th quarter. Legal & General Group Plc now owns 738,898 shares of the company’s stock valued at $14,615,000 after purchasing an additional 663,660 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in Fluence Energy by 0.6% during the 2nd quarter. Squarepoint Ops LLC now owns 268,318 shares of the company’s stock worth $5,334,000 after purchasing an additional 1,707 shares during the last quarter. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Company Profile

(Get Free Report)

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.

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