Flux Power (NASDAQ:FLUX) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Flux Power (NASDAQ:FLUX) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Wall Street Zen raised shares of Flux Power from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Roth Mkm reiterated a “buy” rating on shares of Flux Power in a research note on Friday, November 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Flux Power in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Flux Power Price Performance

Shares of FLUX opened at $1.26 on Tuesday. Flux Power has a 1 year low of $1.01 and a 1 year high of $7.55. The stock’s fifty day moving average price is $1.39 and its two-hundred day moving average price is $2.29. The firm has a market cap of $26.89 million, a PE ratio of -4.06 and a beta of 1.55.

Flux Power (NASDAQ:FLUX) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.11. The firm had revenue of $14.12 million for the quarter, compared to the consensus estimate of $15.55 million. Sell-side analysts anticipate that Flux Power will post -0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Formidable Asset Management LLC boosted its stake in Flux Power by 4.2% during the third quarter. Formidable Asset Management LLC now owns 3,129,157 shares of the company’s stock valued at $11,703,000 after buying an additional 125,043 shares during the period. Virtu Financial LLC purchased a new stake in Flux Power in the third quarter valued at approximately $72,000. JGP Wealth Management LLC bought a new stake in Flux Power during the fourth quarter valued at approximately $74,000. Geode Capital Management LLC grew its stake in 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 buying an additional 30,546 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Flux Power in the 4th quarter worth $83,000. Institutional investors own 37.96% of the company’s stock.

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.