Flux Power (NASDAQ:FLUX) Issues Quarterly Earnings Results

Flux Power (NASDAQ:FLUX) posted its quarterly earnings results on Thursday. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.10), FiscalAI reports. The business had revenue of $13.18 million for the quarter, compared to analyst estimates of $14.11 million.

Flux Power Trading Down 16.4%

Shares of NASDAQ FLUX traded down $0.36 during mid-day trading on Friday, reaching $1.84. The company had a trading volume of 1,131,203 shares, compared to its average volume of 1,058,553. The firm has a 50 day simple moving average of $3.76 and a two-hundred day simple moving average of $2.43. Flux Power has a 52-week low of $1.15 and a 52-week high of $7.55. The stock has a market cap of $30.99 million, a P/E ratio of -4.09 and a beta of 1.90.

Institutional Trading of Flux Power

An institutional investor recently bought a new position in Flux Power stock. Virtu Financial LLC bought a new stake in Flux Power Holdings, Inc. (NASDAQ:FLUX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 19,362 shares of the company’s stock, valued at approximately $72,000. Virtu Financial LLC owned about 0.11% of Flux Power as of its most recent filing with the Securities and Exchange Commission. 37.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FLUX. Weiss Ratings restated a “sell (d-)” rating on shares of Flux Power in a report on Wednesday, October 8th. Zacks Research lowered shares of Flux Power from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Wall Street Zen raised shares of Flux Power from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Roth Capital reiterated a “buy” rating on shares of Flux Power in a report on Friday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $6.00.

About Flux Power

Flux Power Holdings, Inc, through its subsidiary Flux Power, Inc, designs, develops, manufactures, and sells lithium-ion energy storage solutions for lift trucks, airport ground support equipment, and other industrial and commercial applications in the North America. It offers battery management system (BMS) that provides cell balancing, charging, discharging, monitoring, and communication between the pack and the forklift.