Craig Hallum Initiates Coverage on Flux Power (NASDAQ:FLUX)

Craig Hallum began coverage on shares of Flux Power (NASDAQ:FLUX) in a research report issued on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. Craig Hallum’s price objective points to a potential upside of 134.74% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Roth Capital reissued a “buy” rating on shares of Flux Power in a research report on Wednesday, March 6th. Roth Mkm started coverage on Flux Power in a research report on Wednesday, March 6th. They set a “buy” rating and a $10.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $9.67.

Flux Power Trading Down 1.8 %

Flux Power stock opened at $4.26 on Tuesday. Flux Power has a 52 week low of $2.97 and a 52 week high of $5.86. The firm has a market capitalization of $70.42 million, a PE ratio of -11.83 and a beta of 1.33. The business’s 50-day simple moving average is $4.55 and its 200-day simple moving average is $4.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.53 and a current ratio of 1.18.

Flux Power (NASDAQ:FLUX) last released its earnings results on Thursday, February 8th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. Flux Power had a negative return on equity of 67.70% and a negative net margin of 9.07%. The business had revenue of $18.34 million for the quarter, compared to the consensus estimate of $18.02 million. Equities research analysts forecast that Flux Power will post -0.32 earnings per share for the current year.

Institutional Investors Weigh In On Flux Power

A hedge fund recently raised its stake in Flux Power stock. B. Riley Wealth Advisors Inc. raised its stake in shares of Flux Power Holdings, Inc. (NASDAQ:FLUX) by 17.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,100 shares of the company’s stock after purchasing an additional 9,484 shares during the quarter. B. Riley Wealth Advisors Inc. owned 0.39% of Flux Power worth $221,000 as of its most recent filing with the Securities and Exchange Commission. 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.