Flux Power (NASDAQ:FLUX) Releases Earnings Results, Misses Estimates By $0.10 EPS

Flux Power (NASDAQ:FLUX) issued its quarterly earnings data on Thursday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.10), FiscalAI reports. The company had revenue of $13.18 million for the quarter, compared to analysts’ expectations of $14.11 million.

Flux Power Stock Down 16.4%

FLUX stock traded down $0.36 during midday trading on Friday, hitting $1.84. The company’s stock had a trading volume of 1,131,203 shares, compared to its average volume of 1,058,553. The firm has a 50-day simple moving average of $3.76 and a 200-day simple moving average of $2.43. The firm has a market capitalization of $30.99 million, a P/E ratio of -4.09 and a beta of 1.90. Flux Power has a 52-week low of $1.15 and a 52-week high of $7.55.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Flux Power stock. Virtu Financial LLC bought a new stake in Flux Power Holdings, Inc. (NASDAQ:FLUX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,362 shares of the company’s stock, valued at approximately $72,000. Virtu Financial LLC owned approximately 0.11% of Flux Power at the end of the most recent quarter. 37.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FLUX. Wall Street Zen upgraded shares of Flux Power from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research downgraded shares of Flux Power from a “strong-buy” rating to a “hold” rating in a report on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Flux Power in a research report on Wednesday, October 8th. Finally, Roth Capital restated a “buy” rating on shares of Flux Power in a research note on Friday. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Flux Power Company Profile

Flux Power Holdings, Inc, through its subsidiary Flux Power, Inc, designs, develops, manufactures, and sells lithium-ion energy storage solutions for lift trucks, airport ground support equipment, and other industrial and commercial applications in the North America. It offers battery management system (BMS) that provides cell balancing, charging, discharging, monitoring, and communication between the pack and the forklift.