Fluence Energy, Inc. (NASDAQ:FLNC) Director Herman E. Bulls Buys 10,000 Shares

Fluence Energy, Inc. (NASDAQ:FLNC) Director Herman E. Bulls acquired 10,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the transaction, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Fluence Energy Trading Up 2.8 %

Fluence Energy stock opened at $16.24 on Friday. The business’s 50 day simple moving average is $19.18 and its 200 day simple moving average is $18.99. 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 $2.94 billion, a price-to-earnings ratio of 124.92, a PEG ratio of 0.54 and a beta of 2.39.

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

Hedge Funds Weigh In On Fluence Energy

Several large investors have recently modified their holdings of FLNC. JPMorgan Chase & Co. grew its stake in Fluence Energy by 73.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock valued at $12,177,000 after buying an additional 227,549 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Fluence Energy in the third quarter worth $5,742,000. Franklin Resources Inc. grew its position in shares of Fluence Energy by 11.8% in the third quarter. Franklin Resources Inc. now owns 166,613 shares of the company’s stock valued at $3,644,000 after purchasing an additional 17,551 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Fluence Energy by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after purchasing an additional 60,633 shares during the period. Finally, Duff & Phelps Investment Management Co. lifted its holdings in Fluence Energy by 76.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 25,760 shares of the company’s stock worth $585,000 after purchasing an additional 11,138 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FLNC shares. Bank of America decreased their price target on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, November 7th. BMO Capital Markets lifted their target price on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Royal Bank of Canada cut their price target on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective for the company in a research note on Friday, November 8th. Finally, Baird R W lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.65.

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.