Flux Power Holdings, Inc. (NASDAQ: FLUX) has garnered an average recommendation of “Hold” from five brokerages currently covering the company, according to Marketbeat Ratings. Of these, one analyst issued a sell recommendation, one suggested holding, and three favored a buy. The consensus 12-month price target among analysts who recently updated their coverage stands at $6.00.
Several research firms have recently reassessed their ratings on Flux Power. On November 13, 2023, Zacks Research downgraded the stock from a “strong-buy” to a “hold.” Following closely on November 16, Wall Street Zen also lowered its rating from buy to hold. Meanwhile, Weiss Ratings reaffirmed a “sell (D-)” rating for the shares on October 8, 2023. In contrast, Roth Capital reiterated a “buy” rating in a report on November 14, 2023.
The company’s stock recently faced a decline, dropping by 5.0%. In its latest quarterly earnings announcement on November 13, 2023, Flux Power reported an earnings per share (EPS) of ($0.14), which fell short of analysts’ expectations that had predicted ($0.04). The total revenue for the quarter was $13.18 million, missing the consensus estimate of $14.11 million. For the current fiscal year, analysts anticipate an EPS of ($0.16) for Flux Power.
Institutional Investment Changes
In recent months, institutional investors have adjusted their stakes in Flux Power. During the third quarter, Virtu Financial LLC acquired a new stake valued at approximately $72,000. Additionally, Formidable Asset Management LLC increased its position by 4.2%, bringing its total holdings to 3,129,157 shares, valued at $11.7 million after purchasing an additional 125,043 shares.
Another notable change came from XTX Topco Ltd, which raised its holdings by 65.7%, now owning 16,929 shares worth $29,000 after acquiring an additional 6,710 shares. Currently, 37.96% of Flux Power’s stock is owned by institutional investors.
About Flux Power Holdings
Flux Power Holdings, Inc., through its subsidiary Flux Power, Inc., specializes in designing, developing, and manufacturing lithium-ion energy storage solutions. These products are utilized in various applications, including lift trucks and airport ground support equipment across North America. The company also offers a battery management system (BMS) that ensures cell balancing, charging, discharging, monitoring, and communication between the battery pack and the forklift.
As Flux Power navigates its evolving market position, it will be interesting to see how these analyst recommendations and recent investment changes impact its performance in the coming months.