Flux Power (NASDAQ:FLUX) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Flux Power (NASDAQ:FLUX) from a strong-buy rating to a hold rating in a report published on Tuesday morning,Zacks.com reports.

FLUX has been the topic of a number of other research reports. Wall Street Zen upgraded Flux Power from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flux Power in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Flux Power presently has an average rating of “Hold”.

Flux Power Price Performance

FLUX opened at $1.20 on Tuesday. The stock has a market cap of $25.61 million, a P/E ratio of -3.87 and a beta of 1.65. The stock’s 50 day simple moving average is $1.27 and its 200 day simple moving average is $2.09. Flux Power has a 1-year low of $0.97 and a 1-year high of $7.55.

Flux Power (NASDAQ:FLUX) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.11. The firm had revenue of $14.12 million during the quarter, compared to analyst estimates of $15.55 million. Research analysts expect that Flux Power will post -0.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Flux Power news, Director Michael Johnson sold 65,510 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $1.27, for a total transaction of $83,197.70. Following the sale, the director owned 4,061,799 shares in the company, valued at approximately $5,158,484.73. This represents a 1.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 22.00% of the company’s stock.

Institutional Investors Weigh In On Flux Power

Hedge funds have recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of Flux Power by 39.4% during the fourth quarter. State Street Corp now owns 49,568 shares of the company’s stock worth $63,000 after purchasing an additional 14,000 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Flux Power during the fourth quarter worth $64,000. Virtu Financial LLC acquired a new stake in shares of Flux Power during the third quarter worth $72,000. JGP Wealth Management LLC acquired a new stake in shares of Flux Power during the fourth quarter worth $74,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Flux Power during the fourth quarter worth $83,000. Institutional investors and hedge funds own 37.96% of the company’s stock.

About Flux Power

Flux Power (NASDAQ: FLUX) is a U.S.-based designer and manufacturer of advanced lithium-ion battery systems tailored for industrial and material-handling applications. The company develops modular battery packs, battery management systems and related charging solutions that deliver high performance, extended runtimes and rapid recharge cycles. Flux Power’s technology is engineered to withstand the demanding environments of warehouses, manufacturing facilities, airports and port terminals, offering a zero-emission alternative to traditional lead-acid batteries.

Among its core offerings, Flux Power provides plug-and-play lithium-ion battery packs, battery management electronics and telematics software that enable real-time monitoring of state of charge, health metrics and energy usage.