Flux Power (NASDAQ:FLUX) Price Target Cut to $8.00 by Analysts at HC Wainwright

Flux Power (NASDAQ:FLUX) had its target price lowered by HC Wainwright from $15.00 to $8.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Maxim Group cut their price target on Flux Power from $6.00 to $4.00 and set a “buy” rating for the company in a report on Monday, February 3rd.

Flux Power Trading Up 7.7 %

Shares of FLUX stock opened at $2.10 on Monday. The business’s fifty day moving average price is $1.61 and its 200 day moving average price is $2.14. The firm has a market capitalization of $35.03 million, a PE ratio of -4.12 and a beta of 1.29. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.37. Flux Power has a 1-year low of $1.15 and a 1-year high of $5.46.

Flux Power (NASDAQ:FLUX) last posted its quarterly 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%. As a group, sell-side analysts forecast that Flux Power will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Flux Power

A number of institutional investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new stake in shares of Flux Power in the 3rd quarter valued at approximately $32,000. Millennium Management LLC acquired a new position in Flux Power in the fourth quarter worth $27,000. HighTower Advisors LLC increased its stake in Flux Power by 7.3% during the fourth quarter. HighTower Advisors LLC now owns 294,312 shares of the company’s stock valued at $465,000 after purchasing an additional 20,000 shares during the last quarter. Park Edge Advisors LLC raised its holdings in shares of Flux Power by 32.0% during the fourth quarter. Park Edge Advisors LLC now owns 103,192 shares of the company’s stock worth $163,000 after purchasing an additional 25,000 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 worth $761,000 after purchasing an additional 35,826 shares during the period. 37.96% of the stock is owned by institutional investors and hedge funds.

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.