Flux Power (NASDAQ:FLUX) Downgraded by Lake Street Capital to Hold

Flux Power (NASDAQ:FLUX) was downgraded by analysts at Lake Street Capital from a “buy” rating to a “hold” rating in a report released on Wednesday, MarketBeat reports. They currently have a $1.00 target price on the stock. Lake Street Capital‘s target price suggests a potential upside of 124.01% from the company’s previous close.

Several other analysts have also recently commented on FLUX. Roth Capital set a $1.60 target price on Flux Power in a research report on Friday, August 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Flux Power in a research report on Wednesday, August 12th. Finally, Zacks Research raised Flux Power from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $1.30.

Flux Power Trading Down 1.7%

Shares of FLUX stock opened at $0.45 on Wednesday. The stock has a 50-day simple moving average of $0.50 and a 200 day simple moving average of $0.92. Flux Power has a fifty-two week low of $0.39 and a fifty-two week high of $2.72. The stock has a market capitalization of $9.65 million, a P/E ratio of -1.17 and a beta of 1.63. The company has a quick ratio of 0.30, a current ratio of 1.03 and a debt-to-equity ratio of 0.01.

Flux Power (NASDAQ:FLUX) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). The firm had revenue of $6.76 million for the quarter, compared to analyst estimates of $6.25 million. Flux Power had a negative net margin of 17.68% and a negative return on equity of 231.21%. On average, sell-side analysts expect that Flux Power will post -0.42 earnings per share for the current fiscal year.

Flux Power Company Profile

Flux Power Holdings, Inc develops, manufactures and sells lithium-ion battery systems for commercial and industrial applications. The company focuses primarily on energy solutions for material-handling equipment, including electric forklifts, pallet jacks, reach trucks and other warehouse vehicles.

Its product portfolio includes modular lithium-ion battery packs, battery-management systems, chargers and related software and monitoring capabilities. These systems are designed to support fleet electrification, improve energy efficiency and reduce the maintenance requirements associated with traditional lead-acid batteries.

Flux Power serves customers in the material-handling, warehousing, distribution, manufacturing and airport ground-support markets.