Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) saw unusually large options trading on Thursday. Investors purchased 10,228 put options on the company. This is an increase of 138% compared to the average daily volume of 4,296 put options.
Insider Transactions at Fluence Energy
In other Fluence Energy news, Director Cynthia A. Arnold purchased 33,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was bought at an average cost of $5.90 per share, with a total value of $194,700.00. Following the acquisition, the director directly owned 86,202 shares of the company's stock, valued at approximately $508,591.80. This represents a 62.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.65% of the stock is owned by company insiders.
Hedge Funds Weigh In On Fluence Energy
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio acquired a new position in Fluence Energy during the 1st quarter worth approximately $93,000. Voleon Capital Management LP acquired a new position in Fluence Energy during the 1st quarter worth approximately $55,000. Goldman Sachs Group Inc. increased its position in Fluence Energy by 189.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock worth $15,380,000 after purchasing an additional 2,076,668 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Fluence Energy by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 118,559 shares of the company's stock worth $575,000 after purchasing an additional 3,364 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Fluence Energy in the 1st quarter worth approximately $109,000. Institutional investors and hedge funds own 53.16% of the company's stock.
Fluence Energy Stock Performance
FLNC stock traded up $0.88 during trading on Thursday, hitting $8.36. The company had a trading volume of 6,114,141 shares, compared to its average volume of 3,869,594. The firm has a market cap of $1.52 billion, a PE ratio of -37.98 and a beta of 2.65. Fluence Energy has a 1-year low of $3.46 and a 1-year high of $24.00. The firm has a 50-day moving average price of $5.20 and a 200-day moving average price of $7.90. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.78.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Fluence Energy had a negative return on equity of 4.40% and a negative net margin of 1.10%. The business had revenue of $431.62 million for the quarter, compared to analyst estimates of $328.17 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. The business's revenue for the quarter was down 30.7% on a year-over-year basis. On average, analysts expect that Fluence Energy will post 0.08 earnings per share for the current year.
Wall Street Analyst Weigh In
FLNC has been the subject of a number of recent analyst reports. Hsbc Global Res downgraded Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, April 28th. HSBC downgraded Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price target for the company. in a report on Monday, April 28th. Guggenheim reduced their target price on Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a report on Tuesday, April 15th. BMO Capital Markets set a $5.00 target price on Fluence Energy and gave the company a "market perform" rating in a report on Wednesday, June 25th. Finally, The Goldman Sachs Group reduced their target price on Fluence Energy from $9.00 to $8.00 and set a "buy" rating for the company in a report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Fluence Energy has an average rating of "Hold" and a consensus price target of $7.88.
Check Out Our Latest Stock Report on Fluence Energy
About Fluence Energy
(
Get Free Report)
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.
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