Krishna Vanka Sells 20,633 Shares of Flux Power (NASDAQ:FLUX) Stock

Flux Power Holdings, Inc. (NASDAQ:FLUX) CEO Krishna Vanka sold 20,633 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $0.87, for a total value of $17,950.71. Following the sale, the chief executive officer directly owned 20,017 shares of the company’s stock, valued at $17,414.79. This trade represents a 50.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flux Power Stock Performance

Shares of NASDAQ FLUX traded down $0.08 during trading hours on Monday, hitting $0.82. The stock had a trading volume of 131,661 shares, compared to its average volume of 214,541. The firm’s 50-day moving average price is $1.00 and its two-hundred day moving average price is $1.22. Flux Power Holdings, Inc. has a 52 week low of $0.77 and a 52 week high of $7.55. The company has a market capitalization of $17.51 million, a P/E ratio of -2.41 and a beta of 1.67.

Flux Power (NASDAQ:FLUX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.11). The business had revenue of $6.59 million for the quarter, compared to the consensus estimate of $9.89 million. Flux Power had a negative net margin of 12.48% and a negative return on equity of 502.31%. As a group, analysts expect that Flux Power Holdings, Inc. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FLUX. Weiss Ratings restated a “sell (e+)” rating on shares of Flux Power in a report on Friday, May 15th. Roth Mkm reissued a “buy” rating on shares of Flux Power in a research report on Friday, May 8th. Finally, Zacks Research lowered Flux Power from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Flux Power has an average rating of “Reduce”.

Institutional Trading of Flux Power

Institutional investors and hedge funds have recently modified their holdings of the company. Formidable Asset Management LLC boosted its holdings in shares of 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 period. State Street Corp lifted its position 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 acquiring an additional 14,000 shares during the last quarter. Virtu Financial LLC acquired a new position in Flux Power during the 3rd quarter worth $72,000. Geode Capital Management LLC boosted its holdings in Flux Power by 22.0% during the fourth quarter. Geode Capital Management LLC now owns 169,611 shares of the company’s stock valued at $215,000 after acquiring an additional 30,546 shares during the period. Finally, XTX Topco Ltd bought a new stake in Flux Power during the fourth quarter valued at about $64,000. 37.96% of the stock is currently owned by institutional investors and hedge funds.

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.