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

Flux Power (NASDAQ:FLUX) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

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

Flux Power Stock Performance

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 company’s 50 day simple moving average is $1.39 and its 200 day simple moving average is $2.29. The stock has a market capitalization 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 analysts’ consensus estimates of ($0.07) by $0.11. The company had revenue of $14.12 million for the quarter, compared to analysts’ expectations of $15.55 million. As a group, sell-side analysts expect that Flux Power will post -0.16 earnings per share for the current fiscal year.

Institutional Trading of Flux Power

A number of hedge funds have recently made changes to their positions in the company. Formidable Asset Management LLC boosted its stake in shares of Flux Power by 0.4% in the fourth quarter. Formidable Asset Management LLC now owns 3,143,056 shares of the company’s stock valued at $3,992,000 after purchasing an additional 13,899 shares during the period. Geode Capital Management LLC grew its stake in shares of Flux Power by 22.0% during 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 in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Flux Power during the fourth quarter worth about $152,000. Renaissance Technologies LLC purchased a new position in Flux Power in the fourth quarter valued at about $83,000. Finally, JGP Wealth Management LLC acquired a new stake in Flux Power during the 4th quarter valued at approximately $74,000. Hedge funds and other 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.