Flux Power (NASDAQ:FLUX) Stock Price Down 1.1% – Here’s What Happened

Flux Power Holdings, Inc. (NASDAQ:FLUX) shares fell 1.1% during mid-day trading on Friday . The stock traded as low as $0.7752 and last traded at $0.7752. Approximately 38,272 shares changed hands during trading, a decline of 61% from the average session volume of 99,100 shares. The stock had previously closed at $0.7840.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Zacks Research lowered shares of Flux Power from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Flux Power in a report on Friday, May 15th. Finally, Roth Mkm restated a “buy” rating on shares of Flux Power in a research note on Friday, May 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

Flux Power Stock Performance

The stock’s 50-day simple moving average is $1.04 and its 200 day simple moving average is $1.24. The company has a market capitalization of $16.56 million, a PE ratio of -2.28 and a beta of 1.65.

Flux Power (NASDAQ:FLUX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.11). The firm had revenue of $6.59 million for the quarter, compared to analysts’ expectations 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, analysts expect that Flux Power Holdings, Inc. will post -0.34 earnings per share for the current year.

Institutional Trading of Flux Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new position in shares of Flux Power in the 4th quarter valued at $152,000. Geode Capital Management LLC lifted its position in 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 acquiring an additional 30,546 shares during the last quarter. XTX Topco Ltd purchased a new stake in Flux Power in the fourth quarter valued at $64,000. State Street Corp boosted its stake in Flux Power by 39.4% in the fourth quarter. State Street Corp now owns 49,568 shares of the company’s stock valued at $63,000 after acquiring an additional 14,000 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Flux Power in the fourth quarter valued at $83,000. Institutional investors and hedge funds 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.