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

Flux Power Holdings, Inc. (NASDAQ:FLUX) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 339,600 shares, a growth of 34.4% from the March 15th total of 252,600 shares. Based on an average daily volume of 74,800 shares, the days-to-cover ratio is presently 4.5 days. Currently, 2.8% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. HC Wainwright dropped their price objective on Flux Power from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Maxim Group cut their price target on shares of Flux Power from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, February 3rd.

Flux Power Trading Up 1.4 %

NASDAQ FLUX traded up $0.02 on Friday, hitting $1.40. The company’s stock had a trading volume of 15,972 shares, compared to its average volume of 79,962. The company has a current ratio of 0.92, a quick ratio of 0.37 and a debt-to-equity ratio of 0.58. Flux Power has a 52-week low of $1.15 and a 52-week high of $5.05. The firm has a market cap of $23.47 million, a P/E ratio of -2.75 and a beta of 1.22. The company’s 50-day simple moving average is $1.53 and its 200 day simple moving average is $1.94.

Flux Power (NASDAQ:FLUX) last released its earnings results on Wednesday, January 29th. The company reported ($0.17) earnings per share (EPS) for the quarter. Flux Power had a negative net margin of 13.70% and a negative return on equity of 160.99%. Research analysts predict that Flux Power will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Jane Street Group LLC purchased a new stake in shares of Flux Power during the third quarter valued at $32,000. Millennium Management LLC bought a new position in Flux Power during the 4th quarter valued at about $27,000. Park Edge Advisors LLC boosted its holdings in shares of Flux Power by 32.0% during the 4th quarter. Park Edge Advisors LLC now owns 103,192 shares of the company’s stock valued at $163,000 after acquiring an additional 25,000 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Flux Power by 7.3% in the fourth quarter. HighTower Advisors LLC now owns 294,312 shares of the company’s stock worth $465,000 after acquiring an additional 20,000 shares during the period. Finally, Tidal Investments LLC raised its holdings in shares of Flux Power by 8.0% during the fourth quarter. Tidal Investments LLC now owns 481,916 shares of the company’s stock valued at $761,000 after purchasing an additional 35,826 shares during the last quarter. Hedge funds and other institutional investors own 37.96% of the company’s stock.

About Flux Power

Flux Power Holdings, Inc, through its subsidiary Flux Power, Inc, designs, develops, manufactures, and sells lithium-ion energy storage solutions for lift trucks, airport ground support equipment, and other industrial and commercial applications in the North America. It offers battery management system (BMS) that provides cell balancing, charging, discharging, monitoring, and communication between the pack and the forklift.