Weiss Ratings Reaffirms Sell (D-) Rating for Flux Power (NASDAQ:FLUX)

Key Points

• Weiss Ratings has reiterated a "sell (D-)" rating for Flux Power (NASDAQ: FLUX), despite other analysts providing mixed ratings including some upgrades to "buy."
• The stock has recently seen a 15% increase, opening at $5.60, and has an average price target of $6.00 according to MarketBeat.
• Institutional investors have increased their stakes in Flux Power, with over 37% ownership attributed to hedge funds and other institutional investors.

Flux Power (NASDAQ:FLUX - Get Free Report)'s stock had its "sell (d-)" rating restated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently commented on the stock. Wall Street Zen upgraded shares of Flux Power to a "hold" rating in a research note on Friday, September 26th. Zacks Research upgraded shares of Flux Power from a "hold" rating to a "strong-buy" rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $6.00.

Flux Power Stock Up 15.0%

NASDAQ:FLUX opened at $5.60 on Wednesday. The company has a fifty day simple moving average of $2.34 and a two-hundred day simple moving average of $1.93. The company has a market cap of $94.30 million, a price-to-earnings ratio of -14.00 and a beta of 1.91. Flux Power has a 52 week low of $1.15 and a 52 week high of $5.67.

Institutional Investors Weigh In On Flux Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd lifted its position in Flux Power by 65.7% in the first quarter. XTX Topco Ltd now owns 16,929 shares of the company's stock valued at $29,000 after acquiring an additional 6,710 shares during the last quarter. Millennium Management LLC purchased a new stake in Flux Power in the fourth quarter valued at $27,000. Finally, Formidable Asset Management LLC raised its holdings in shares of Flux Power by 14.9% in the first quarter. Formidable Asset Management LLC now owns 3,004,114 shares of the company's stock valued at $5,167,000 after buying an additional 388,889 shares during the last quarter. 37.96% of the stock is owned by hedge funds and other institutional investors.

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.

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