Flux Power (NASDAQ:FLUX) Rating Lowered to Strong Sell at Zacks Research

Flux Power (NASDAQ:FLUX) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts have also recently commented on FLUX. Wall Street Zen upgraded shares of Flux Power from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Roth Mkm reiterated a “buy” rating on shares of Flux Power in a research note on Friday, May 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Flux Power in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Flux Power Stock Up 2.0%

FLUX stock opened at $1.04 on Wednesday. The firm has a 50 day moving average of $1.21 and a 200 day moving average of $1.52. The stock has a market capitalization of $22.21 million, a PE ratio of -3.06 and a beta of 1.72. Flux Power has a 52 week low of $0.91 and a 52 week high of $7.55.

Flux Power (NASDAQ:FLUX) last released its 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). The company had revenue of $6.59 million during 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%. On average, equities research analysts expect that Flux Power will post -0.34 earnings per share for the current year.

Insider Transactions at Flux Power

In other Flux Power news, Director Michael Johnson sold 65,510 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $1.27, for a total transaction of $83,197.70. Following the completion of the transaction, the director directly owned 4,061,799 shares of the company’s stock, valued at approximately $5,158,484.73. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 22.00% of the company’s stock.

Hedge Funds Weigh In On Flux Power

A number of institutional investors have recently bought and sold shares of FLUX. State Street Corp raised its position in Flux Power by 39.4% during the 4th quarter. State Street Corp now owns 49,568 shares of the company’s stock worth $63,000 after buying an additional 14,000 shares during the last quarter. XTX Topco Ltd purchased a new position in Flux Power during the 4th quarter worth approximately $64,000. Virtu Financial LLC purchased a new position in shares of Flux Power during the 3rd quarter valued at approximately $72,000. JGP Wealth Management LLC purchased a new position in shares of Flux Power during the 4th quarter valued at approximately $74,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Flux Power during the 4th quarter valued at approximately $83,000. 37.96% of the stock is owned by hedge funds and other institutional investors.

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.