Flux Power Holdings, Inc. (NASDAQ:FLUX) Forecasted to Earn FY2024 Earnings of ($0.46) Per Share

Flux Power Holdings, Inc. (NASDAQ:FLUX - Free Report) - Analysts at HC Wainwright decreased their FY2024 earnings estimates for shares of Flux Power in a report issued on Tuesday, May 14th. HC Wainwright analyst A. Dayal now expects that the company will post earnings per share of ($0.46) for the year, down from their previous estimate of ($0.31). HC Wainwright currently has a "Buy" rating and a $15.00 target price on the stock. The consensus estimate for Flux Power's current full-year earnings is ($0.32) per share. HC Wainwright also issued estimates for Flux Power's Q4 2024 earnings at ($0.12) EPS and FY2025 earnings at ($0.19) EPS.

Flux Power (NASDAQ:FLUX - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). Flux Power had a negative net margin of 11.03% and a negative return on equity of 85.74%. The firm had revenue of $14.46 million for the quarter, compared to analysts' expectations of $16.02 million. During the same period in the prior year, the company posted ($0.09) earnings per share.

A number of other research firms have also commented on FLUX. Maxim Group reduced their price objective on shares of Flux Power from $9.00 to $6.00 and set a "buy" rating for the company in a research note on Friday, May 10th. Roth Mkm assumed coverage on shares of Flux Power in a research note on Wednesday, March 6th. They set a "buy" rating and a $10.00 price objective for the company. Craig Hallum reduced their price target on shares of Flux Power from $10.00 to $7.00 and set a "buy" rating for the company in a research report on Friday, May 10th. Finally, Roth Capital reissued a "buy" rating on shares of Flux Power in a research report on Wednesday, March 6th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $9.50.

Flux Power Trading Up 2.1 %

FLUX stock traded up $0.07 during mid-day trading on Thursday, reaching $3.33. 54,999 shares of the stock traded hands, compared to its average volume of 82,527. The company has a current ratio of 1.18, a quick ratio of 0.53 and a debt-to-equity ratio of 0.03. Flux Power has a 52-week low of $2.90 and a 52-week high of $5.86. The company has a market cap of $55.55 million, a P/E ratio of -7.74 and a beta of 1.33. The stock's fifty day moving average is $4.36 and its 200-day moving average is $4.23.

Institutional Investors Weigh In On Flux Power

Several hedge funds and other institutional investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. boosted its stake in Flux Power by 17.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 64,100 shares of the company's stock worth $221,000 after buying an additional 9,484 shares in the last quarter. Vanguard Group Inc. boosted its stake in Flux Power by 14.1% during the first quarter. Vanguard Group Inc. now owns 530,317 shares of the company's stock worth $2,349,000 after buying an additional 65,448 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Flux Power during the fourth quarter worth $51,000. Institutional investors and hedge funds own 37.96% of the company's stock.

Flux Power Company Profile

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.