Flux Power (NASDAQ:FLUX) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of Flux Power (NASDAQ:FLUX) from a hold rating to a strong sell rating in a report issued on Wednesday,Zacks.com reports.

Several other brokerages also recently issued reports on FLUX. Wall Street Zen upgraded Flux Power from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Flux Power in a research note on Thursday, January 22nd. Finally, Roth Mkm restated a “buy” rating on shares of Flux Power in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce”.

Flux Power Price Performance

Shares of NASDAQ:FLUX opened at $1.04 on Wednesday. The firm has a market capitalization of $22.21 million, a PE ratio of -3.06 and a beta of 1.72. The business has a 50-day moving average of $1.21 and a two-hundred day moving average of $1.52. Flux Power has a 12 month low of $0.91 and a 12 month high of $7.55.

Flux Power (NASDAQ:FLUX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.11). The firm had revenue of $6.59 million for the quarter, compared to analyst estimates 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 anticipate that Flux Power will post -0.34 earnings per share for the current year.

Insider Activity at Flux Power

In other Flux Power news, Director Michael Johnson sold 65,510 shares of the business’s 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 transaction, the director owned 4,061,799 shares in the company, valued at $5,158,484.73. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Flux Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in Flux Power during the 3rd quarter worth $72,000. State Street Corp increased its stake 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 buying an additional 14,000 shares during the period. XTX Topco Ltd purchased a new stake in Flux Power during the 4th quarter worth $64,000. JGP Wealth Management LLC purchased a new stake in Flux Power during the 4th quarter worth $74,000. Finally, Renaissance Technologies LLC purchased a new stake in Flux Power during the 4th quarter worth $83,000. Hedge funds and other institutional investors own 37.96% of the company’s stock.

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.