Fluence Energy, Inc. (NASDAQ:FLNC – Get Free Report) Director Herman E. Bulls bought 10,000 shares of Fluence Energy stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost of $15.57 per share, with a total value of $155,700.00. Following the completion of the acquisition, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. The trade was a 15.18 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.
Fluence Energy Stock Down 2.0 %
FLNC traded down $0.33 on Thursday, hitting $15.80. The company had a trading volume of 1,480,869 shares, compared to its average volume of 2,363,416. The business’s fifty day simple moving average is $19.29 and its 200 day simple moving average is $19.01. Fluence Energy, Inc. has a 12-month low of $12.74 and a 12-month high of $26.12. The company has a market cap of $2.86 billion, a PE ratio of 121.54, a PEG ratio of 0.54 and a beta of 2.39.
Fluence Energy (NASDAQ:FLNC – Get Free Report) last released its earnings results on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.11. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company’s revenue for the quarter was up 82.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS. On average, analysts anticipate that Fluence Energy, Inc. will post 0.56 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages recently commented on FLNC. Bank of America decreased their target price on Fluence Energy from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Citigroup cut Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $32.00 to $24.00 in a research report on Tuesday, October 1st. Baird R W cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Robert W. Baird reaffirmed a “neutral” rating and set a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Finally, Canaccord Genuity Group reduced their price objective on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.65.
Hedge Funds Weigh In On Fluence Energy
A number of large investors have recently made changes to their positions in FLNC. PARK CIRCLE Co bought a new stake in Fluence Energy in the second quarter worth about $28,000. US Bancorp DE lifted its stake in shares of 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. CWM LLC grew its position in Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after acquiring an additional 1,767 shares during the last quarter. Point72 DIFC Ltd bought a new position in Fluence Energy in the 3rd quarter valued at $74,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Fluence Energy during the third quarter worth $87,000. 53.16% of the stock is owned by hedge funds and other institutional investors.
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.