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

Flux Power Holdings, Inc. (NASDAQ:FLUX) traded down 1.1% during mid-day trading on Friday . The company traded as low as $0.7752 and last traded at $0.7752. Approximately 38,272 shares changed hands 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

FLUX has been the topic of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Flux Power in a research report on Friday, May 15th. Zacks Research cut shares of Flux Power from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 13th. Finally, Roth Mkm reissued a “buy” rating on shares of Flux Power in a research report on Friday, May 8th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Flux Power currently has a consensus rating of “Reduce”.

Flux Power Stock Down 1.1%

The firm has a market cap of $16.56 million, a PE 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 announced 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). Flux Power had a negative return on equity of 502.31% and a negative net margin of 12.48%.The company had revenue of $6.59 million for the quarter, compared to analysts’ expectations of $9.89 million. On average, analysts forecast that Flux Power Holdings, Inc. will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Formidable Asset Management LLC boosted its stake 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 valued at $3,992,000 after buying an additional 13,899 shares during the last quarter. State Street Corp grew its position in shares of 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 buying an additional 14,000 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Flux Power during the third quarter valued at approximately $72,000. Geode Capital Management LLC lifted its holdings in shares of Flux Power by 22.0% in the 4th quarter. Geode Capital Management LLC now owns 169,611 shares of the company’s stock worth $215,000 after purchasing an additional 30,546 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Flux Power during the 4th quarter valued at approximately $64,000. Hedge funds and other 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.