Fluence Energy, Inc. (NASDAQ:FLNC) CFO Ahmed Pasha Acquires 15,500 Shares

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

Fluence Energy Stock Up 9.3 %

Shares of NASDAQ FLNC opened at $7.03 on Wednesday. The firm has a market capitalization of $1.27 billion, a P/E ratio of 54.08, a P/E/G ratio of 0.49 and a beta of 2.37. The stock’s 50-day simple moving average is $14.36 and its two-hundred day simple moving average is $17.88. Fluence Energy, Inc. has a twelve month low of $6.05 and a twelve month high of $26.12.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. As a group, research analysts anticipate that Fluence Energy, Inc. will post 0.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Truist Financial dropped their price target on Fluence Energy from $28.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Royal Bank of Canada cut Fluence Energy from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $25.00 to $7.00 in a research report on Wednesday, February 12th. Bank of America cut Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $8.00 in a research report on Thursday, February 13th. Roth Mkm cut Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $6.50 in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group decreased their price objective on Fluence Energy from $26.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.64.

Hedge Funds Weigh In On Fluence Energy

Institutional investors have recently modified their holdings of the company. Sanders Morris Harris LLC bought a new position in shares of Fluence Energy during the 4th quarter valued at about $812,000. Cidel Asset Management Inc. bought a new position in shares of Fluence Energy during the 4th quarter valued at about $350,000. SG Americas Securities LLC boosted its holdings in Fluence Energy by 79.2% during the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock valued at $776,000 after acquiring an additional 21,597 shares during the period. FMR LLC boosted its holdings in Fluence Energy by 9.0% during the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after acquiring an additional 132,868 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in Fluence Energy during the 3rd quarter valued at about $5,742,000. 53.16% of the stock is currently owned by 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.