Flux Power (NASDAQ:FLUX) Trading Down 6.7% – Here’s What Happened

Flux Power Holdings, Inc. (NASDAQ:FLUX)’s stock price dropped 6.7% on Friday . The company traded as low as $0.9350 and last traded at $0.9701. Approximately 161,065 shares traded hands during trading, an increase of 14% from the average daily volume of 141,350 shares. The stock had previously closed at $1.04.

Wall Street Analyst Weigh In

Several analysts have commented on FLUX shares. Zacks Research cut shares of Flux Power from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Flux Power in a report on Friday, May 15th. Wall Street Zen upgraded Flux Power from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Roth Mkm reissued a “buy” rating on shares of Flux Power in a research note on Friday, May 8th. One 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.com, Flux Power has a consensus rating of “Reduce”.

Flux Power Stock Performance

The business’s fifty day moving average price is $1.12 and its two-hundred day moving average price is $1.32. The stock has a market capitalization of $20.72 million, a P/E ratio of -2.85 and a beta of 1.65.

Flux Power (NASDAQ:FLUX) last announced its quarterly 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 business had revenue of $6.59 million during the quarter, compared to the consensus estimate of $9.89 million. Flux Power had a negative net margin of 12.48% and a negative return on equity of 502.31%. As a group, analysts forecast that Flux Power Holdings, Inc. will post -0.34 earnings per share for the current year.

Insider Activity at Flux Power

In other news, Director Michael Johnson sold 65,510 shares of Flux Power stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $1.27, for a total value of $83,197.70. Following the completion of the transaction, the director owned 4,061,799 shares in the company, valued at approximately $5,158,484.73. The trade was a 1.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 22.00% of the company’s stock.

Institutional Trading of Flux Power

Institutional investors have recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new position in Flux Power during the fourth quarter worth $152,000. Renaissance Technologies LLC bought a new position in Flux Power during the fourth quarter valued at $83,000. JGP Wealth Management LLC purchased a new stake in shares of Flux Power in the fourth quarter valued at $74,000. XTX Topco Ltd purchased a new stake in shares of Flux Power in the fourth quarter valued at $64,000. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 30,546 shares during the last quarter. 37.96% of the stock is currently owned by 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.