Flux Power Holdings, Inc. (NASDAQ:FLUX) Sees Large Drop in Short Interest


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Flux Power Holdings, Inc. (NASDAQ:FLUX) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 727,400 shares, a drop of 26.6% from the March 31st total of 990,400 shares. Approximately 9.2% of the company’s shares are short sold. Based on an average daily volume of 223,700 shares, the short-interest ratio is currently 3.3 days.

A number of analysts recently commented on the company. Zacks Investment Research lowered Flux Power from a “buy” rating to a “hold” rating in a research note on Wednesday, April 14th. Maxim Group initiated coverage on Flux Power in a research report on Thursday, February 4th. They set a “buy” rating for the company.

Flux Power stock traded down $0.61 on Tuesday, hitting $10.23. 75,422 shares of the stock traded hands, compared to its average volume of 243,729. The company has a current ratio of 1.41, a quick ratio of 0.87 and a debt-to-equity ratio of 0.74. The firm has a market cap of $129.96 million, a P/E ratio of -3.99 and a beta of 0.97. The business’s fifty day simple moving average is $12.05 and its 200 day simple moving average is $13.29. Flux Power has a 1 year low of $4.00 and a 1 year high of $22.50.

Flux Power (NASDAQ:FLUX) last announced its quarterly earnings data on Thursday, February 11th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The business had revenue of $6.47 million during the quarter, compared to analyst estimates of $5.80 million. As a group, analysts predict that Flux Power will post -1.1 earnings per share for the current year.

In related news, Director Michael Johnson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $11.23, for a total value of $112,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 71.19% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of FLUX. NEXT Financial Group Inc bought a new position in shares of Flux Power during the first quarter valued at $31,000. Northern Trust Corp bought a new position in shares of Flux Power during the fourth quarter valued at $190,000. JPMorgan Chase & Co. bought a new position in shares of Flux Power during the fourth quarter valued at $360,000. Jane Street Group LLC bought a new position in shares of Flux Power during the fourth quarter valued at $542,000. Finally, Mcdonald Partners LLC bought a new position in shares of Flux Power during the fourth quarter valued at $806,000. Hedge funds and other institutional investors own 3.37% of the company’s stock.

Flux Power Company Profile

Flux Power Holdings, Inc, through its subsidiary Flux Power, Inc, designs, develops, manufactures, and sells rechargeable lithium-ion energy storage systems for electric forklifts, airport ground support equipment, and other industrial motive applications in the United States. It offers battery management system (BMS) that provides cell balancing, monitoring, and error reporting functions for battery systems.

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