Flux Power (NASDAQ:FLUX) Stock Rating Upgraded by Zacks Investment Research

Flux Power (NASDAQ:FLUXGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Flux Power Holdings, Inc. designs, develops and sells rechargeable energy storage systems. Its primary product consists of the Flux Power 24-volt lithium pack and individual 3.2 volt cells. The company offers system accessories, such as stand-alone battery management, stackable chargers and programming software. Flux Power Holdings, Inc. is headquartered in Vista, California. “

Separately, Maxim Group cut their price objective on shares of Flux Power from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, February 11th.

FLUX stock traded down $0.04 during mid-day trading on Wednesday, reaching $2.70. 65,057 shares of the stock traded hands, compared to its average volume of 91,428. Flux Power has a one year low of $2.00 and a one year high of $12.60. The stock has a market capitalization of $43.18 million, a PE ratio of -2.60 and a beta of 0.96. The business has a 50-day moving average price of $2.60 and a two-hundred day moving average price of $4.12.

Flux Power (NASDAQ:FLUXGet Rating) last posted its quarterly earnings data on Thursday, February 10th. The company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.10). Flux Power had a negative net margin of 50.09% and a negative return on equity of 87.33%. The firm had revenue of $7.69 million for the quarter, compared to the consensus estimate of $7.94 million. During the same quarter last year, the firm earned ($0.29) EPS. As a group, equities analysts anticipate that Flux Power will post -1.19 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the stock. Mcdonald Partners LLC lifted its position in shares of Flux Power by 14.4% during the third quarter. Mcdonald Partners LLC now owns 52,725 shares of the company’s stock valued at $268,000 after buying an additional 6,625 shares during the last quarter. Moors & Cabot Inc. acquired a new position in shares of Flux Power during the third quarter valued at about $822,000. Balyasny Asset Management LLC acquired a new position in shares of Flux Power during the third quarter valued at about $60,000. Jane Street Group LLC acquired a new position in shares of Flux Power during the third quarter valued at about $127,000. Finally, Marshall Wace LLP acquired a new position in shares of Flux Power during the fourth quarter valued at about $138,000. 62.47% of the stock is owned by institutional investors.

About Flux Power (Get Rating)

Flux Power Holdings, Inc engages in the design, development, and sale of rechargeable lithium-ion energy storage systems for industrial applications. It focuses on electric fork lifts and airport ground support equipment. The company was founded by Christopher L. Anthony and Michael Johnson on September 21, 1998 and is headquartered in Vista, CA.

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