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

Flux Power (NASDAQ:FLUX) had its price target cut by HC Wainwright from $15.00 to $8.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 310.26% from the company’s current price.

Separately, Maxim Group reduced their target price 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 Stock Performance

Shares of FLUX opened at $1.95 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. Flux Power has a 12 month low of $1.15 and a 12 month high of $5.46. The company’s fifty day moving average is $1.60 and its 200-day moving average is $2.15. The firm has a market cap of $32.53 million, a price-to-earnings ratio of -3.82 and a beta of 1.29.

Flux Power (NASDAQ:FLUX) last posted 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%. Equities analysts expect that Flux Power will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Flux Power

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new stake in Flux Power during the 3rd quarter valued at approximately $32,000. Millennium Management LLC bought a new stake in shares of Flux Power in the fourth quarter valued at approximately $27,000. HighTower Advisors LLC grew its stake in shares of Flux Power by 7.3% in the fourth quarter. HighTower Advisors LLC now owns 294,312 shares of the company’s stock worth $465,000 after acquiring an additional 20,000 shares during the last quarter. Park Edge Advisors LLC increased its position in 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 acquiring an additional 25,000 shares during the period. Finally, Tidal Investments LLC raised its stake in Flux Power by 8.0% during the 4th quarter. Tidal Investments LLC now owns 481,916 shares of the company’s stock valued at $761,000 after purchasing an additional 35,826 shares during the last quarter. 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.