Flux Power (NASDAQ:FLUX) Rating Lowered to Hold at Zacks Research

Flux Power (NASDAQ:FLUX) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other research firms have also issued reports on FLUX. Weiss Ratings reissued a “sell (d-)” rating on shares of Flux Power in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Flux Power from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Roth Capital restated a “buy” rating on shares of Flux Power in a research report on Friday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.00.

Flux Power Price Performance

FLUX traded down $0.36 on Thursday, reaching $1.84. 1,131,203 shares of the stock were exchanged, compared to its average volume of 1,058,553. The company’s 50-day moving average price is $3.76 and its 200 day moving average price is $2.43. The firm has a market capitalization of $30.99 million, a PE ratio of -4.09 and a beta of 1.90. Flux Power has a fifty-two week low of $1.15 and a fifty-two week high of $7.55.

Flux Power (NASDAQ:FLUX) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.10). The firm had revenue of $13.18 million during the quarter, compared to analysts’ expectations of $14.11 million. As a group, equities analysts forecast that Flux Power will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flux Power

Several hedge funds have recently modified their holdings of FLUX. XTX Topco Ltd grew its position in shares of Flux Power by 65.7% during the 1st quarter. XTX Topco Ltd now owns 16,929 shares of the company’s stock valued at $29,000 after acquiring an additional 6,710 shares during the period. Virtu Financial LLC purchased a new position in Flux Power during the third quarter worth approximately $72,000. Finally, Formidable Asset Management LLC grew its holdings in Flux Power by 14.9% in the first quarter. Formidable Asset Management LLC now owns 3,004,114 shares of the company’s stock valued at $5,167,000 after purchasing an additional 388,889 shares during the period. 37.96% of the stock is owned by hedge funds and other institutional investors.

Flux Power Company Profile

Flux Power Holdings, Inc, through its subsidiary Flux Power, Inc, designs, develops, manufactures, and sells lithium-ion energy storage solutions for lift trucks, airport ground support equipment, and other industrial and commercial applications in the North America. It offers battery management system (BMS) that provides cell balancing, charging, discharging, monitoring, and communication between the pack and the forklift.