Analysts Set Flux Power Holdings, Inc. (NASDAQ:FLUX) Price Target at $6.00

Flux Power Holdings, Inc. (NASDAQ:FLUX) has earned an average recommendation of “Hold” from the five research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $6.00.

FLUX has been the subject of several research reports. Roth Capital reaffirmed a “buy” rating on shares of Flux Power in a research note on Friday. Wall Street Zen downgraded Flux Power from a “buy” rating to a “hold” rating in a research report on Sunday. Zacks Research lowered Flux Power from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Flux Power in a research note on Wednesday, October 8th.

Hedge Funds Weigh In On Flux Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLUX. XTX Topco Ltd increased its position in Flux Power by 65.7% during the 1st quarter. XTX Topco Ltd now owns 16,929 shares of the company’s stock worth $29,000 after purchasing an additional 6,710 shares during the period. Virtu Financial LLC acquired a new position in shares of Flux Power during the 3rd quarter worth $72,000. Finally, Formidable Asset Management LLC lifted its holdings in shares of Flux Power by 4.2% in the third quarter. Formidable Asset Management LLC now owns 3,129,157 shares of the company’s stock valued at $11,703,000 after purchasing an additional 125,043 shares in the last quarter. 37.96% of the stock is owned by institutional investors and hedge funds.

Flux Power Price Performance

Flux Power stock opened at $1.84 on Friday. The business has a 50 day simple moving average of $3.76 and a 200-day simple moving average of $2.44. The stock has a market capitalization of $39.27 million, a PE ratio of -4.09 and a beta of 1.90. Flux Power has a 12 month low of $1.15 and a 12 month high of $7.55.

Flux Power (NASDAQ:FLUX) last posted 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 business had revenue of $13.18 million for the quarter, compared to analyst estimates of $14.11 million. On average, equities research analysts anticipate that Flux Power will post -0.16 EPS for the current fiscal year.

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.