Maxim Group Issues Pessimistic Forecast for Flux Power (NASDAQ:FLUX) Stock Price

Flux Power (NASDAQ:FLUX) had its price objective trimmed by Maxim Group from $6.00 to $4.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Flux Power Stock Down 2.2 %

Shares of Flux Power stock opened at $1.75 on Monday. The company has a quick ratio of 0.37, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $1.75 and a 200 day moving average price of $2.62. Flux Power has a fifty-two week low of $1.55 and a fifty-two week high of $5.86. The firm has a market cap of $29.19 million, a P/E ratio of -3.43 and a beta of 1.11.

Flux Power (NASDAQ:FLUX) last released its earnings results on Wednesday, January 29th. The company reported ($0.17) earnings per share for the quarter. Flux Power had a negative net margin of 13.70% and a negative return on equity of 160.99%. On average, sell-side analysts forecast that Flux Power will post -0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new stake in Flux Power in the 3rd quarter valued at approximately $32,000. HighTower Advisors LLC increased its holdings in shares of Flux Power by 176.8% during the third quarter. HighTower Advisors LLC now owns 274,312 shares of the company’s stock valued at $834,000 after purchasing an additional 175,210 shares during the period. Finally, Park Edge Advisors LLC lifted its holdings in Flux Power by 32.0% in 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. 37.96% of the stock is owned by institutional investors and hedge funds.

Flux Power Company Profile

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.