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

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) CFO Ahmed Pasha purchased 15,500 shares of Fluence Energy 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 owns 24,703 shares in the company, valued at approximately $160,075.44. This trade represents a 168.42 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Fluence Energy Stock Down 5.7 %

Shares of FLNC stock traded down $0.42 on Friday, reaching $6.94. 7,610,429 shares of the stock were exchanged, compared to its average volume of 8,356,199. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The business's 50 day moving average price is $13.58 and its 200 day moving average price is $17.63. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -138.80 and a beta of 2.37. Fluence Energy, Inc. has a twelve month low of $6.05 and a twelve month high of $26.12.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. As a group, sell-side analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fluence Energy

Large investors have recently bought and sold shares of the stock. US Bancorp DE boosted its stake in Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company's stock valued at $38,000 after acquiring an additional 1,475 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in Fluence Energy in the fourth quarter valued at $34,000. CWM LLC boosted its stake in Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company's stock valued at $65,000 after acquiring an additional 1,767 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Fluence Energy in the third quarter valued at $74,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fluence Energy during the third quarter worth about $87,000. Institutional investors and hedge funds own 53.16% of the company's stock.

Analysts Set New Price Targets

FLNC has been the topic of a number of research analyst reports. Barclays cut their target price on Fluence Energy from $22.00 to $9.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 12th. Susquehanna cut their target price on Fluence Energy from $23.00 to $10.00 and set a "positive" rating on the stock in a research report on Wednesday, February 12th. UBS Group lowered Fluence Energy from a "buy" rating to a "neutral" rating and cut their target price for the company from $28.00 to $8.00 in a research report on Wednesday, February 12th. Canaccord Genuity Group cut their target price on Fluence Energy from $34.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Finally, Robert W. Baird reissued a "neutral" rating and issued a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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.