Flux Power (NASDAQ:FLUX) Downgraded by Zacks Research to Hold

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

Several other research analysts also recently weighed in on the stock. Wall Street Zen upgraded shares of Flux Power from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Flux Power in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Flux Power currently has a consensus rating of “Hold”.

Flux Power Stock Up 1.7%

FLUX opened at $1.23 on Tuesday. Flux Power has a twelve month low of $0.97 and a twelve month high of $7.55. The company has a 50-day moving average price of $1.27 and a 200 day moving average price of $2.10. The company has a market cap of $26.25 million, a PE ratio of -3.97 and a beta of 1.65.

Flux Power (NASDAQ:FLUX) last released 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 company had revenue of $14.12 million for the quarter, compared to analyst estimates of $15.55 million. As a group, sell-side analysts expect that Flux Power will post -0.16 earnings per share for the current year.

Insider Transactions at Flux Power

In related news, Director Michael Johnson sold 65,510 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $1.27, for a total transaction of $83,197.70. Following the completion of the sale, the director owned 4,061,799 shares of the company’s stock, valued at approximately $5,158,484.73. This represents a 1.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 22.00% of the company’s stock.

Institutional Trading of Flux Power

Large investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in shares of Flux Power in the 4th quarter valued at approximately $64,000. Quadrature Capital Ltd purchased a new stake in shares of Flux Power in the 4th quarter valued at approximately $152,000. State Street Corp grew its stake in shares of Flux Power by 39.4% in the 4th quarter. State Street Corp now owns 49,568 shares of the company’s stock valued at $63,000 after buying an additional 14,000 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Flux Power in the 4th quarter valued at approximately $83,000. Finally, Geode Capital Management LLC grew its stake 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 valued at $215,000 after buying an additional 30,546 shares during the period. Hedge funds and other institutional investors own 37.96% of the company’s stock.

Flux Power Company Profile

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.