Flux Power (NASDAQ:FLUX) Downgraded by Zacks Research to Hold

Flux Power (NASDAQ:FLUX) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flux Power in a report on Thursday, January 22nd. Wall Street Zen upgraded Flux Power from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold”.

Flux Power Trading Up 1.7%

FLUX stock opened at $1.23 on Tuesday. The company has a market capitalization of $26.25 million, a PE ratio of -3.97 and a beta of 1.65. Flux Power has a 12-month low of $0.97 and a 12-month high of $7.55. The business’s fifty day moving average price is $1.27 and its 200 day moving average price is $2.10.

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

Insider Buying and Selling

In related news, Director Michael Johnson sold 65,510 shares of the business’s 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 completion of the transaction, the director directly owned 4,061,799 shares of the company’s stock, valued at $5,158,484.73. The trade was a 1.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Formidable Asset Management LLC lifted its holdings in Flux Power by 0.4% during the 4th quarter. Formidable Asset Management LLC now owns 3,143,056 shares of the company’s stock worth $3,992,000 after buying an additional 13,899 shares during the last quarter. State Street Corp lifted its holdings in Flux Power by 39.4% during the 4th quarter. State Street Corp now owns 49,568 shares of the company’s stock worth $63,000 after buying an additional 14,000 shares during the last quarter. Virtu Financial LLC purchased a new stake in Flux Power during the 3rd quarter worth about $72,000. Geode Capital Management LLC lifted its holdings in Flux Power by 22.0% during the 4th quarter. Geode Capital Management LLC now owns 169,611 shares of the company’s stock worth $215,000 after buying an additional 30,546 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in Flux Power during the 4th quarter worth about $64,000. 37.96% of the stock is owned by institutional investors and hedge funds.

Flux Power Company Profile

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.