Flux Power (NASDAQ:FLUX) Price Target Lowered to $8.00 at HC Wainwright

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

Separately, Maxim Group dropped their price objective on Flux Power from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd.

Flux Power Price Performance

Shares of NASDAQ:FLUX opened at $2.10 on Monday. The firm’s 50 day moving average is $1.61 and its two-hundred day moving average is $2.14. The firm has a market capitalization of $35.03 million, a P/E ratio of -4.12 and a beta of 1.29. The company has a current ratio of 0.92, a quick ratio of 0.37 and a debt-to-equity ratio of 0.58. Flux Power has a 52 week low of $1.15 and a 52 week high of $5.46.

Flux Power (NASDAQ:FLUX) last posted its quarterly earnings data on Wednesday, January 29th. The company reported ($0.17) EPS for the quarter. Flux Power had a negative net margin of 13.70% and a negative return on equity of 160.99%. Analysts anticipate that Flux Power will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Flux Power

A number of hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC boosted its position in Flux Power by 176.8% during the third quarter. HighTower Advisors LLC now owns 274,312 shares of the company’s stock worth $834,000 after purchasing an additional 175,210 shares during the period. Jane Street Group LLC acquired a new stake in shares of Flux Power in the third quarter worth $32,000. Park Edge Advisors LLC boosted its holdings in shares of Flux Power by 32.0% during the 4th quarter. Park Edge Advisors LLC now owns 103,192 shares of the company’s stock worth $163,000 after buying an additional 25,000 shares during the period. Millennium Management LLC acquired a new position in Flux Power in the 4th quarter valued at $27,000. Finally, Tidal Investments LLC raised its holdings in Flux Power by 8.0% in the 4th quarter. Tidal Investments LLC now owns 481,916 shares of the company’s stock worth $761,000 after acquiring 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.