Flux Power Holdings, Inc. (NASDAQ:FLUX) Shares Shorted: Short Interest Up 79.1% in October

Flux Power Holdings, Inc. (NASDAQ:FLUX) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 1,002,570 shares, a growth of 79.1% from the September 30th total of 559,869 shares. Based on an average trading volume of 16,122,411 shares, the days-to-cover ratio is currently 0.1 days. Approximately 5.9% of the company’s shares are sold short.

Wall Street Analyst Weigh In

FLUX has been the subject of several analyst reports. Zacks Research raised Flux Power from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Roth Capital set a $1.60 target price on Flux Power in a research report on Friday, August 21st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Flux Power in a report on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Flux Power has a consensus rating of “Hold” and a consensus price target of $1.60.

Flux Power Trading Up 5.6%

Shares of FLUX stock traded up $0.02 during trading hours on Monday, reaching $0.45. 275,135 shares of the stock were exchanged, compared to its average volume of 1,108,772. The firm has a market capitalization of $9.81 million, a price-to-earnings ratio of -1.19 and a beta of 1.63. Flux Power has a 12-month low of $0.39 and a 12-month high of $2.90. The company’s 50-day moving average price is $0.51 and its 200-day moving average price is $0.93. The company has a current ratio of 1.03, a quick ratio of 0.30 and a debt-to-equity ratio of 0.01.

Flux Power (NASDAQ:FLUX) last posted its quarterly earnings data on Thursday, August 20th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). The company had revenue of $8.25 million for the quarter, compared to analyst estimates of $7.94 million. Flux Power had a negative net margin of 17.68% and a negative return on equity of 231.21%. As a group, equities analysts anticipate that Flux Power will post -0.42 earnings per share for the current year.

Flux Power Company Profile

Flux Power Holdings, Inc develops, manufactures and sells lithium-ion battery systems for commercial and industrial applications. The company focuses primarily on energy solutions for material-handling equipment, including electric forklifts, pallet jacks, reach trucks and other warehouse vehicles.

Its product portfolio includes modular lithium-ion battery packs, battery-management systems, chargers and related software and monitoring capabilities. These systems are designed to support fleet electrification, improve energy efficiency and reduce the maintenance requirements associated with traditional lead-acid batteries.

Flux Power serves customers in the material-handling, warehousing, distribution, manufacturing and airport ground-support markets.