Flux Power Holdings, Inc. (NASDAQ:FLUX) Sees Significant Decrease in Short Interest

Flux Power Holdings, Inc. (NASDAQ:FLUX) was the target of a significant drop in short interest in February. As of February 27th, there was short interest totaling 492,463 shares, a drop of 26.1% from the February 12th total of 666,150 shares. Based on an average daily trading volume, of 468,237 shares, the days-to-cover ratio is currently 1.1 days. Currently, 3.0% of the shares of the stock are short sold. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 468,237 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State Street Corp grew its position in Flux Power by 39.4% during 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 in the last quarter. XTX Topco Ltd purchased a new position in shares of Flux Power during the fourth quarter valued at $64,000. Virtu Financial LLC purchased a new position in shares of Flux Power during the third quarter valued at $72,000. JGP Wealth Management LLC acquired a new position in Flux Power during the fourth quarter valued at $74,000. Finally, Renaissance Technologies LLC purchased a new stake in Flux Power in the 4th quarter worth about $83,000. 37.96% of the stock is owned by hedge funds and other institutional investors.

Flux Power Trading Down 2.8%

Shares of Flux Power stock traded down $0.04 on Friday, reaching $1.38. 124,616 shares of the company were exchanged, compared to its average volume of 371,501. The stock has a fifty day moving average price of $1.42 and a 200-day moving average price of $2.26. The firm has a market capitalization of $29.45 million, a price-to-earnings ratio of -4.45 and a beta of 1.54. Flux Power has a fifty-two week low of $1.01 and a fifty-two week high of $7.55.

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, beating analysts’ consensus estimates of ($0.07) by $0.11. The company had revenue of $14.12 million during the quarter, compared to analyst estimates of $15.55 million. On average, equities analysts anticipate that Flux Power will post -0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FLUX has been the topic of several research reports. Zacks Research upgraded shares of Flux Power from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 17th. 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 reaffirmed a “sell (d-)” rating on shares of Flux Power in a research note on Thursday, January 22nd. Finally, Roth Mkm reissued a “buy” rating on shares of Flux Power in a research note 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 given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.00.

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.