Flux Power (NASDAQ:FLUX) Upgraded to Hold at Zacks Research

Flux Power (NASDAQ:FLUX) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Roth Capital restated a “buy” rating on shares of Flux Power in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Flux Power in a report on Friday, May 15th. One equities research analyst has 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. Based on data from MarketBeat, the company has an average rating of “Hold”.

Flux Power Stock Performance

Shares of Flux Power stock opened at $0.73 on Tuesday. The stock has a market capitalization of $15.56 million, a P/E ratio of -2.14 and a beta of 1.67. Flux Power has a 52-week low of $0.72 and a 52-week high of $7.55. The stock’s 50-day simple moving average is $0.98 and its 200 day simple moving average is $1.21.

Flux Power (NASDAQ:FLUX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.89 million. Equities research analysts forecast that Flux Power will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Flux Power

Large investors have recently modified their holdings of the company. 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 during the last quarter. State Street Corp raised its stake in shares of Flux Power by 39.4% during the fourth quarter. State Street Corp now owns 49,568 shares of the company’s stock worth $63,000 after acquiring an additional 14,000 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Flux Power in the 3rd quarter worth 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 acquiring an additional 30,546 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Flux Power in the 4th quarter valued at $64,000. 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.