Flux Power (NASDAQ:FLUX) Upgraded to “Buy” by Zacks Investment Research


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Zacks Investment Research upgraded shares of Flux Power (NASDAQ:FLUX) from a hold rating to a buy rating in a report issued on Tuesday, Zacks.com reports. Zacks Investment Research currently has $13.00 target price on the stock.

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. “

Separately, Maxim Group started coverage on shares of Flux Power in a research report on Thursday, February 4th. They set a buy rating for the company.

FLUX opened at $11.20 on Tuesday. The firm has a market capitalization of $142.28 million, a P/E ratio of -4.52 and a beta of 0.97. The firm’s 50 day moving average is $12.34 and its 200-day moving average is $13.14. Flux Power has a 52-week low of $4.00 and a 52-week high of $22.50. The company has a quick ratio of 0.87, a current ratio of 1.41 and a debt-to-equity ratio of 0.74.

Flux Power (NASDAQ:FLUX) last posted its quarterly earnings data on Thursday, February 11th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). The firm had revenue of $6.47 million for the quarter, compared to the consensus estimate of $5.80 million. Equities analysts expect that Flux Power will post -1.1 earnings per share for the current fiscal year.

In other Flux Power news, Director Michael Johnson sold 10,000 shares of Flux Power stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $11.23, for a total value of $112,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 71.19% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Formidable Asset Management LLC boosted its holdings in Flux Power by 296.7% in the fourth quarter. Formidable Asset Management LLC now owns 628,019 shares of the company’s stock worth $9,851,000 after purchasing an additional 469,689 shares during the period. FNY Investment Advisers LLC raised its stake in shares of Flux Power by 73.0% during the first quarter. FNY Investment Advisers LLC now owns 246,735 shares of the company’s stock valued at $3,195,000 after purchasing an additional 104,074 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Flux Power during the fourth quarter valued at about $3,315,000. Kathmere Capital Management LLC bought a new stake in shares of Flux Power during the third quarter valued at about $1,152,000. Finally, Mcdonald Partners LLC bought a new stake in shares of Flux Power during the fourth quarter valued at about $806,000. 3.37% of the stock is owned by hedge funds and other institutional investors.

Flux Power Company Profile

Flux Power Holdings, Inc, through its subsidiary Flux Power, Inc, designs, develops, manufactures, and sells rechargeable lithium-ion energy storage systems for electric forklifts, airport ground support equipment, and other industrial motive applications in the United States. It offers battery management system (BMS) that provides cell balancing, monitoring, and error reporting functions for battery systems.

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