Fluence Energy (NASDAQ:FLNC) Director Herman Bulls Acquires 10,000 Shares of Stock

Key Points

• Director Herman Bulls bought 10,000 Fluence Energy shares at an average price of $7.36, investing $73,600 and increasing his holdings by 6.27% to 169,550 shares.
• Fluence shares traded down 1.6% to $7.27, near their 12-month low of $7.01. The company reported a quarterly loss of $0.24 per share and revenue of $649.85 million, below analysts’ $818.57 million estimate.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $12.42; several firms recently cut their ratings or targets, while institutional investors own 53.16% of the stock.

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) Director Herman Bulls bought 10,000 shares of the firm's stock in a transaction dated Monday, September 21st. The shares were acquired at an average price of $7.36 per share, with a total value of $73,600.00. Following the completion of the transaction, the director owned 169,550 shares of the company's stock, valued at approximately $1,247,888. The trade was a 6.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Fluence Energy Trading Down 1.6%

Shares of FLNC traded down $0.12 during trading hours on Tuesday, reaching $7.27. 8,135,568 shares of the company traded hands, compared to its average volume of 8,118,209. The stock's fifty day moving average price is $12.03 and its 200 day moving average price is $15.86. The company has a current ratio of 1.34, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -11.92 and a beta of 2.74. Fluence Energy, Inc. has a 12-month low of $7.01 and a 12-month high of $33.51.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.24) EPS for the quarter. The company had revenue of $649.85 million during the quarter, compared to analysts' expectations of $818.57 million. Fluence Energy had a negative return on equity of 16.79% and a negative net margin of 3.13%.The company's quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 EPS. Sell-side analysts forecast that Fluence Energy, Inc. will post -1.03 earnings per share for the current year.

Institutional Investors Weigh In On Fluence Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC increased its position in shares of Fluence Energy by 126.7% during the second quarter. Tidal Investments LLC now owns 207,694 shares of the company's stock worth $4,129,000 after purchasing an additional 116,064 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Fluence Energy in the 2nd quarter worth $94,000. Maven Securities LTD acquired a new stake in shares of Fluence Energy in the 2nd quarter worth $398,000. IFP Advisors Inc boosted its position in shares of Fluence Energy by 184.1% in the 2nd quarter. IFP Advisors Inc now owns 1,540 shares of the company's stock worth $31,000 after purchasing an additional 998 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in Fluence Energy by 0.6% during the 2nd quarter. Squarepoint Ops LLC now owns 268,318 shares of the company's stock worth $5,334,000 after buying an additional 1,707 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FLNC. Wall Street Zen lowered Fluence Energy from a "sell" rating to a "strong sell" rating in a report on Saturday. Piper Sandler reduced their price objective on Fluence Energy from $6.00 to $5.00 and set an "underweight" rating on the stock in a report on Thursday, September 17th. Barclays lowered Fluence Energy from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $16.00 to $10.00 in a research report on Thursday, September 3rd. Citigroup lowered their target price on Fluence Energy from $24.00 to $20.00 and set a "buy" rating for the company in a report on Friday, August 14th. Finally, Robert W. Baird restated an "underperform" rating and set a $3.00 price target (down from $10.00) on shares of Fluence Energy in a research note on Thursday, September 17th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $12.42.

Fluence Energy Company Profile

Fluence Energy, Inc is a global energy storage and software company that develops solutions to support the transition to cleaner and more reliable electricity systems. The company provides products and services for utilities, renewable energy developers, commercial and industrial customers, and other power market participants.

Its offerings include large-scale battery energy storage systems, renewable energy integration solutions, and digital applications for managing and optimizing energy assets.

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