Flux Power (NASDAQ:FLUX) Trading Down 1.1% – Here’s What Happened

Flux Power Holdings, Inc. (NASDAQ:FLUX)’s stock price fell 1.1% during trading on Friday . The company traded as low as $0.7752 and last traded at $0.7752. Approximately 38,272 shares were traded during mid-day trading, a decline of 61% from the average session volume of 99,100 shares. The stock had previously closed at $0.7840.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FLUX shares. Roth Mkm reiterated a “buy” rating on shares of Flux Power in a report on Friday, May 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Flux Power in a research note on Friday, May 15th. Finally, Zacks Research lowered Flux Power from a “hold” rating to a “strong sell” rating in a research 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. According to MarketBeat.com, Flux Power presently has an average rating of “Reduce”.

Flux Power Trading Down 1.1%

The firm has a market cap of $16.56 million, a price-to-earnings ratio of -2.28 and a beta of 1.65. The firm’s 50-day moving average is $1.04 and its 200-day moving average is $1.24.

Flux Power (NASDAQ:FLUX) last released 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 analyst estimates of $9.89 million. Flux Power had a negative return on equity of 502.31% and a negative net margin of 12.48%. Analysts forecast that Flux Power Holdings, Inc. will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Flux Power

Several large investors have recently added to or reduced their stakes in FLUX. State Street Corp boosted its stake in Flux Power by 39.4% during the 4th quarter. State Street Corp now owns 49,568 shares of the company’s stock valued at $63,000 after purchasing an additional 14,000 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Flux Power in the fourth quarter valued at approximately $64,000. Virtu Financial LLC bought a new position in shares of Flux Power in the third quarter valued at approximately $72,000. JGP Wealth Management LLC purchased a new position in shares of Flux Power during the fourth quarter valued at approximately $74,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Flux Power during the fourth quarter valued at approximately $83,000. Institutional investors 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.