Brokerages Anticipate Flux Power Holdings, Inc. (NASDAQ:FLUX) Will Post Quarterly Sales of $10.41 Million

Wall Street brokerages predict that Flux Power Holdings, Inc. (NASDAQ:FLUXGet Rating) will announce sales of $10.41 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Flux Power’s earnings. The lowest sales estimate is $10.00 million and the highest is $10.82 million. Flux Power reported sales of $8.33 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 25%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Flux Power will report full year sales of $37.53 million for the current financial year, with estimates ranging from $37.10 million to $37.96 million. For the next financial year, analysts anticipate that the firm will report sales of $51.80 million, with estimates ranging from $40.00 million to $63.61 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Flux Power.

A number of brokerages have recently issued reports on FLUX. Maxim Group lowered their price objective on Flux Power from $13.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, February 11th. Zacks Investment Research upgraded Flux Power from a “sell” rating to a “hold” rating in a report on Wednesday, April 13th.

Shares of FLUX stock opened at $2.15 on Friday. Flux Power has a 12 month low of $2.00 and a 12 month high of $12.60. The firm has a market capitalization of $34.39 million, a price-to-earnings ratio of -1.90 and a beta of 1.01. The business’s 50-day moving average price is $2.54 and its 200-day moving average price is $3.58.

A number of institutional investors have recently made changes to their positions in the business. Balyasny Asset Management LLC purchased a new position in shares of Flux Power during the third quarter valued at approximately $60,000. Altium Capital Management LP purchased a new position in Flux Power in the third quarter worth $2,652,000. Toroso Investments LLC purchased a new position in Flux Power in the third quarter worth $539,000. Moors & Cabot Inc. purchased a new position in Flux Power in the third quarter worth $822,000. Finally, Mcdonald Partners LLC boosted its position in Flux Power by 14.4% in the third quarter. Mcdonald Partners LLC now owns 52,725 shares of the company’s stock worth $268,000 after purchasing an additional 6,625 shares during the last quarter. 57.58% of the stock is owned by hedge funds and other institutional investors.

Flux Power Company Profile (Get Rating)

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 United States. It offers battery management system (BMS) that provides cell balancing, charging, discharging, monitoring, and communication between the pack and the forklift.

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