Flux Power Holdings, Inc. (NASDAQ:FLUX) has received an average recommendation of “Hold” from five brokerages monitoring the company, according to Marketbeat Ratings. This consensus is a result of varied opinions, with one analyst rating the stock as a sell, one as a hold, and three issuing buy recommendations.
Analysts have recently provided updated insights on the stock. On November 13, 2023, Zacks Research downgraded its rating from “strong-buy” to “hold.” Similarly, Wall Street Zen followed suit, lowering its rating from “buy” to “hold” on November 16, 2023. In contrast, Roth Capital reaffirmed a “buy” rating on the same day, while Weiss Ratings maintained a “sell (D-)” rating on October 8, 2023.
The average twelve-month price target set by analysts for Flux Power is currently $6.00, reflecting cautious optimism among some market participants.
Quarterly Earnings Report Shows Shortfall
Flux Power recently released its quarterly earnings on November 13, 2023, revealing a loss of $0.14 per share, which was significantly lower than analysts’ consensus estimate of $0.04. The company’s revenue for the quarter stood at $13.18 million, missing the expected $14.11 million by a notable margin. Analysts project that Flux Power will report an earnings per share of -0.16 for the current fiscal year.
The financial performance has prompted discussions among institutional investors who have recently adjusted their positions in the company. For example, Virtu Financial LLC acquired a new stake valued at approximately $72,000 in the third quarter. Formidable Asset Management LLC also increased its holdings by 4.2%, now owning 3,129,157 shares worth about $11.7 million after acquiring an additional 125,043 shares. Meanwhile, XTX Topco Ltd enhanced its stake by an impressive 65.7%, owning 16,929 shares valued at $29,000.
Currently, institutional investors hold approximately 37.96% of Flux Power’s stock, indicating a significant level of interest among larger financial entities.
About Flux Power Holdings
Flux Power Holdings, Inc. operates through its subsidiary, Flux Power, Inc., focusing on the design, development, manufacturing, and sale of lithium-ion energy storage solutions. These solutions cater to lift trucks, airport ground support equipment, and other industrial and commercial applications across North America. The company also provides a battery management system (BMS) that manages cell balancing, charging, discharging, and communication between the battery pack and the forklift.
As Flux Power navigates its current market position, the mixed recommendations from analysts underscore the complexities facing the company as it strives for growth in a competitive landscape.
