Heynitz Harald Von Acquires 7,000 Shares of Fluence Energy (NASDAQ:FLNC) Stock

Key Points

• Fluence Energy director Harald von Heynitz purchased 7,000 shares at an average price of $7.36, investing $51,520 and increasing his stake by 11.96% to 65,550 shares.
• FLNC shares fell 1.6% to $7.27 and are 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 analyst expectations.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and a $12.42 target price after several firms lowered their targets; institutional investors own 53.16% of the stock.

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) Director Harald von Heynitz bought 7,000 shares of the business's stock in a transaction dated Monday, September 21st. The shares were bought at an average cost of $7.36 per share, for a total transaction of $51,520.00. Following the transaction, the director owned 65,550 shares in the company, valued at approximately $482,448. The trade was a 11.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Fluence Energy Trading Down 1.6%

Shares of FLNC stock traded down $0.12 during trading hours on Tuesday, reaching $7.27. 8,135,568 shares of the stock were exchanged, compared to its average volume of 8,118,209. The firm has a market capitalization 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. The company's 50-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.

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

Analysts Set New Price Targets

Several equities analysts have commented on the company. Citigroup cut their price objective on Fluence Energy from $24.00 to $20.00 and set a "buy" rating on the stock in a research report on Friday, August 14th. JPMorgan Chase & Co. lowered their target price on shares of Fluence Energy from $17.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, September 17th. Morgan Stanley set a $15.00 price target on shares of Fluence Energy in a report on Friday, August 7th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Fluence Energy in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group lowered shares of Fluence Energy from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $22.00 to $9.00 in a report on Thursday, September 17th. Four analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and seven have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $12.42.

Institutional Inflows and Outflows

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

About Fluence Energy

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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