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

Flux Power Holdings, Inc. (NASDAQ:FLUX) was down 6.7% on Friday . The stock traded as low as $0.9350 and last traded at $0.9701. Approximately 161,065 shares were traded during mid-day 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 brokerages recently commented on FLUX. Wall Street Zen raised shares of Flux Power from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Flux Power in a research report on Friday, May 15th. Roth Mkm reissued a “buy” rating on shares of Flux Power in a research note on Friday, May 8th. Finally, Zacks Research cut Flux Power from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, Flux Power presently has an average rating of “Reduce”.

Flux Power Price Performance

The company has a 50 day simple moving average of $1.12 and a 200-day simple moving average of $1.32. The stock has a market cap of $20.72 million, a P/E ratio of -2.85 and a beta of 1.65.

Flux Power (NASDAQ:FLUX) last released its earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.11). The firm had revenue of $6.59 million during the quarter, compared to the consensus estimate of $9.89 million. Flux Power had a negative return on equity of 502.31% and a negative net margin of 12.48%. As a group, research analysts expect that Flux Power Holdings, Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Flux Power

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

Institutional Trading of Flux Power

Several large investors have recently modified their holdings of the business. Formidable Asset Management LLC grew its position in shares of Flux Power by 0.4% in the 4th quarter. Formidable Asset Management LLC now owns 3,143,056 shares of the company’s stock worth $3,992,000 after buying an additional 13,899 shares during the last quarter. State Street Corp lifted its position 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 worth $63,000 after purchasing an additional 14,000 shares during the period. Virtu Financial LLC bought a new stake in shares of Flux Power during the 3rd quarter valued at about $72,000. Geode Capital Management LLC increased its position 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 buying an additional 30,546 shares during the period. Finally, XTX Topco Ltd bought a new position in Flux Power in the fourth quarter worth about $64,000. 37.96% of the stock is 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.