Flux Power (NASDAQ:FLUX) Upgraded at Zacks Investment Research

Flux Power (NASDAQ:FLUX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The brokerage presently has a $6.00 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.73% from the stock’s previous close.

According to Zacks, “Flux Power Holdings, Inc. designs, develops and sells rechargeable energy storage systems. Its primary product consists of the Flux Power 24-volt lithium pack and individual 3.2 volt cells. The company offers system accessories, such as stand-alone battery management, stackable chargers and programming software. Flux Power Holdings, Inc. is headquartered in Vista, California. “

A number of other research firms have also recently commented on FLUX. Maxim Group cut their target price on Flux Power from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, September 28th. HC Wainwright initiated coverage on Flux Power in a research report on Tuesday, October 5th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Roth Capital restated a “buy” rating and issued a $13.00 price target on shares of Flux Power in a research report on Tuesday, October 5th.

Shares of FLUX traded up $0.05 during midday trading on Thursday, reaching $5.37. 87,729 shares of the stock were exchanged, compared to its average volume of 193,968. The business’s 50-day moving average price is $6.06 and its 200 day moving average price is $8.46. Flux Power has a twelve month low of $4.75 and a twelve month high of $22.50. The company has a market capitalization of $85.86 million, a price-to-earnings ratio of -5.32 and a beta of 0.89.

Flux Power (NASDAQ:FLUX) last posted its earnings results on Friday, November 12th. The company reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.02). Flux Power had a negative return on equity of 119.04% and a negative net margin of 57.24%. During the same period last year, the firm posted ($0.42) EPS. As a group, equities research analysts expect that Flux Power will post -0.89 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mcdonald Partners LLC boosted its holdings in Flux Power by 14.4% in the 3rd quarter. Mcdonald Partners LLC now owns 52,725 shares of the company’s stock valued at $268,000 after purchasing an additional 6,625 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in Flux Power in the 3rd quarter valued at approximately $822,000. Balyasny Asset Management LLC purchased a new stake in Flux Power in the 3rd quarter valued at approximately $60,000. Yaupon Capital Management LP purchased a new stake in Flux Power in the 2nd quarter valued at approximately $147,000. Finally, Invesco Ltd. boosted its holdings in Flux Power by 1.8% in the 2nd quarter. Invesco Ltd. now owns 1,035,321 shares of the company’s stock valued at $12,041,000 after purchasing an additional 17,918 shares in the last quarter. 24.83% of the stock is currently owned by institutional investors.

Flux Power Company Profile

Flux Power Holdings, Inc engages in the design, development, and sale of rechargeable lithium-ion energy storage systems for industrial applications. It focuses on electric fork lifts and airport ground support equipment. The company was founded by Christopher L. Anthony and Michael Johnson on September 21, 1998 and is headquartered in Vista, CA.

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