HC Wainwright Reaffirms Buy Rating for Flux Power (NASDAQ:FLUX)

HC Wainwright reiterated their buy rating on shares of Flux Power (NASDAQ:FLUX) in a research report report published on Friday morning, MarketBeat reports.

Separately, Lake Street Capital initiated coverage on shares of Flux Power in a report on Thursday, June 8th. They issued a buy rating for the company.

Flux Power Trading Down 0.2 %

FLUX opened at $4.09 on Friday. Flux Power has a one year low of $2.41 and a one year high of $7.50. The stock’s 50 day moving average price is $4.72 and its 200-day moving average price is $4.45. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.46 and a current ratio of 1.30. The stock has a market cap of $66.75 million, a price-to-earnings ratio of -8.35 and a beta of 1.16.

Insider Buying and Selling

In other news, Director Michael Johnson sold 9,602 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $4.05, for a total value of $38,888.10. Following the transaction, the director now owns 4,380,458 shares of the company’s stock, valued at approximately $17,740,854.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 29.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FLUX. Formidable Asset Management LLC increased its stake in Flux Power by 2.8% in the 1st quarter. Formidable Asset Management LLC now owns 3,185,952 shares of the company’s stock worth $15,465,000 after purchasing an additional 86,678 shares during the period. Toroso Investments LLC boosted its holdings in shares of Flux Power by 13.2% in the 4th quarter. Toroso Investments LLC now owns 436,716 shares of the company’s stock worth $1,734,000 after purchasing an additional 50,826 shares during the period. EAM Investors LLC bought a new stake in shares of Flux Power during the 4th quarter worth approximately $974,000. BlackRock Inc. increased its holdings in shares of Flux Power by 1.5% in the 2nd quarter. BlackRock Inc. now owns 183,955 shares of the company’s stock valued at $793,000 after acquiring an additional 2,774 shares during the period. Finally, Crown Advisors Management Inc. purchased a new stake in Flux Power during the 1st quarter valued at about $534,000. Institutional investors and hedge funds own 30.56% of the company’s stock.

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.