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 dated Thursday, July 2nd. The shares were sold at an average price of $0.87, for a total transaction of $17,950.71. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flux Power Stock Down 2.9%

Shares of FLUX opened at $0.73 on Thursday. The company has a 50-day moving average price of $0.98 and a two-hundred day moving average price of $1.21. The stock has a market cap of $15.56 million, a price-to-earnings ratio of -2.14 and a beta of 1.67. Flux Power Holdings, Inc. has a 12 month low of $0.72 and a 12 month high of $7.55.

Flux Power (NASDAQ:FLUX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.11). Flux Power had a negative net margin of 12.48% and a negative return on equity of 502.31%. The company had revenue of $6.59 million during the quarter, compared to the consensus estimate of $9.89 million. Equities research analysts expect that Flux Power Holdings, Inc. will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Flux Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in Flux Power in the third quarter worth $72,000. 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 valued at $215,000 after buying an additional 30,546 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Flux Power in the fourth quarter valued at $152,000. Renaissance Technologies LLC bought a new position in shares of Flux Power in the fourth quarter valued at about $83,000. Finally, XTX Topco Ltd acquired a new position in Flux Power during the 4th quarter worth about $64,000. 37.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Roth Capital reissued a “buy” rating on shares of Flux Power in a report on Friday, May 8th. Zacks Research lowered shares of Flux Power from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Flux Power in a research report on Friday, May 15th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Flux Power currently has an average rating of “Reduce”.

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.