Insider Selling: Flux Power (NASDAQ:FLUX) CEO Sells $17,950.71 in Stock

Flux Power Holdings, Inc. (NASDAQ:FLUX) CEO Krishna Vanka sold 20,633 shares of Flux Power stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $0.87, for a total transaction of $17,950.71. Following the completion of the transaction, the chief executive officer owned 20,017 shares in the company, valued at approximately $17,414.79. This trade represents a 50.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flux Power Price Performance

Shares of NASDAQ:FLUX traded down $0.08 on Monday, reaching $0.82. 131,661 shares of the company traded hands, compared to its average volume of 214,541. The stock has a market capitalization of $17.51 million, a PE ratio of -2.41 and a beta of 1.67. The company’s 50 day moving average is $1.00 and its 200-day moving average is $1.22. Flux Power Holdings, Inc. has a fifty-two week low of $0.77 and a fifty-two week high of $7.55.

Flux Power (NASDAQ:FLUX) last announced its earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.11). The company 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%. As a group, analysts expect that Flux Power Holdings, Inc. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on FLUX shares. Zacks Research downgraded shares of Flux Power from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Flux Power in a research note on Friday, May 15th. Finally, Roth Mkm restated a “buy” rating on shares of Flux Power in a report on Friday, May 8th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLUX. Formidable Asset Management LLC lifted its position in Flux Power by 0.4% in the 4th quarter. Formidable Asset Management LLC now owns 3,143,056 shares of the company’s stock worth $3,992,000 after buying an additional 13,899 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Flux Power by 22.0% in the fourth quarter. Geode Capital Management LLC now owns 169,611 shares of the company’s stock worth $215,000 after acquiring an additional 30,546 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Flux Power in the fourth quarter worth $152,000. Renaissance Technologies LLC purchased a new stake in shares of Flux Power during the fourth quarter worth $83,000. Finally, JGP Wealth Management LLC acquired a new stake in Flux Power during the fourth quarter valued at $74,000. 37.96% of the stock is owned by hedge funds and other institutional investors.

Flux Power Company Profile

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.