Zacks: Brokerages Expect Flux Power Holdings, Inc. (NASDAQ:FLUX) to Announce -$0.30 EPS

Wall Street brokerages expect that Flux Power Holdings, Inc. (NASDAQ:FLUX) will announce earnings of ($0.30) per share for the current quarter, according to Zacks. Two analysts have issued estimates for Flux Power’s earnings, with the highest EPS estimate coming in at ($0.27) and the lowest estimate coming in at ($0.32). Flux Power reported earnings per share of ($0.42) during the same quarter last year, which indicates a positive year-over-year growth rate of 28.6%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 11th.

According to Zacks, analysts expect that Flux Power will report full-year earnings of ($0.90) per share for the current fiscal year, with EPS estimates ranging from ($0.95) to ($0.84). For the next financial year, analysts expect that the business will report earnings of ($0.52) per share, with EPS estimates ranging from ($0.57) to ($0.47). Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Flux Power.

Flux Power (NASDAQ:FLUX) last posted its quarterly earnings results on Tuesday, September 21st. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.10). Flux Power had a negative return on equity of 190.10% and a negative net margin of 60.55%.

A number of equities analysts have recently issued reports on the company. HC Wainwright assumed coverage on Flux Power in a research report on Tuesday, October 5th. They set a “buy” rating and a $15.00 price target on the stock. Roth Capital restated a “buy” rating and set a $13.00 price objective on shares of Flux Power in a research note on Tuesday, October 5th. Maxim Group decreased their price objective on Flux Power from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, September 28th. Finally, Zacks Investment Research cut Flux Power from a “buy” rating to a “hold” rating in a research note on Wednesday, July 14th.

Several hedge funds and other institutional investors have recently modified their holdings of FLUX. JPMorgan Chase & Co. lifted its stake in shares of Flux Power by 1,008.6% during the 1st quarter. JPMorgan Chase & Co. now owns 231,526 shares of the company’s stock worth $2,998,000 after purchasing an additional 210,641 shares during the last quarter. Formidable Asset Management LLC raised its stake in Flux Power by 16.2% in the first quarter. Formidable Asset Management LLC now owns 729,760 shares of the company’s stock valued at $9,522,000 after buying an additional 101,741 shares during the last quarter. Geode Capital Management LLC raised its stake in Flux Power by 137.1% in the first quarter. Geode Capital Management LLC now owns 83,736 shares of the company’s stock valued at $1,084,000 after buying an additional 48,414 shares during the last quarter. National Asset Management Inc. raised its stake in Flux Power by 44.2% in the second quarter. National Asset Management Inc. now owns 83,395 shares of the company’s stock valued at $970,000 after buying an additional 25,560 shares during the last quarter. Finally, State Street Corp purchased a new stake in Flux Power in the second quarter valued at about $328,000. Hedge funds and other institutional investors own 30.25% of the company’s stock.

Shares of FLUX traded down $0.02 during midday trading on Friday, reaching $5.64. 3,068 shares of the stock were exchanged, compared to its average volume of 494,669. Flux Power has a 52 week low of $4.75 and a 52 week high of $22.50. The company’s 50 day moving average is $7.34 and its two-hundred day moving average is $9.47. The company has a market capitalization of $90.18 million, a P/E ratio of -5.04 and a beta of 0.86.

About Flux Power

Flux Power Holdings, Inc engages in the design, development, and sale of rechargeable lithium-ion energy storage systems for industrial applications. It focuses on electric fork lifts and airport ground support equipment. The company was founded by Christopher L. Anthony and Michael Johnson on September 21, 1998 and is headquartered in Vista, CA.

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