Fluence Energy, Inc. (NASDAQ:FLNC) CFO Buys $100,440.00 in Stock

Fluence Energy, Inc. (NASDAQ:FLNC) CFO Ahmed Pasha purchased 15,500 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average cost of $6.48 per share, with a total value of $100,440.00. Following the acquisition, the chief financial officer now owns 24,703 shares of the company’s stock, valued at $160,075.44. This represents a 168.42 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Fluence Energy Trading Up 7.4 %

Shares of NASDAQ:FLNC opened at $7.36 on Friday. Fluence Energy, Inc. has a 12 month low of $6.05 and a 12 month high of $26.12. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. The company’s fifty day simple moving average is $13.78 and its 200 day simple moving average is $17.68. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -147.20 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. As a group, research analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE increased its stake in Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after buying an additional 1,475 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in Fluence Energy in the 4th quarter valued at $34,000. CWM LLC increased its stake 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 buying an additional 1,767 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Fluence Energy in the 3rd quarter valued at $74,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fluence Energy in the 3rd quarter valued at $87,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FLNC shares. BMO Capital Markets lowered shares of Fluence Energy from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $22.00 to $10.00 in a report on Tuesday, February 11th. Royal Bank of Canada cut shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $25.00 to $7.00 in a research note on Wednesday, February 12th. Bank of America cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $8.00 in a research note on Thursday, February 13th. Piper Sandler reduced their price objective on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Finally, BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective on the stock in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.64.

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.