Flux Power Holdings, Inc. (NASDAQ:FLUX) Sees Large Growth in Short Interest

Flux Power Holdings, Inc. (NASDAQ:FLUX) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 339,600 shares, an increase of 34.4% from the March 15th total of 252,600 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average trading volume of 74,800 shares, the days-to-cover ratio is currently 4.5 days.

Institutional Trading of Flux Power

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in Flux Power in the 3rd quarter worth about $32,000. Millennium Management LLC bought a new position in Flux Power during the fourth quarter worth about $27,000. Park Edge Advisors LLC increased its stake in shares of Flux Power by 32.0% in the fourth quarter. Park Edge Advisors LLC now owns 103,192 shares of the company’s stock worth $163,000 after purchasing an additional 25,000 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Flux Power by 7.3% in the fourth quarter. HighTower Advisors LLC now owns 294,312 shares of the company’s stock valued at $465,000 after purchasing an additional 20,000 shares during the period. Finally, Tidal Investments LLC lifted its stake in shares of Flux Power by 8.0% during the 4th quarter. Tidal Investments LLC now owns 481,916 shares of the company’s stock valued at $761,000 after buying an additional 35,826 shares in the last quarter. 37.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. HC Wainwright decreased their price objective on shares of Flux Power from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, March 24th. 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 Stock Performance

Shares of Flux Power stock traded up $0.02 during trading hours on Friday, hitting $1.40. 15,972 shares of the company’s stock traded hands, compared to its average volume of 79,962. The stock has a market capitalization of $23.47 million, a price-to-earnings ratio of -2.75 and a beta of 1.22. The company has a fifty day simple moving average of $1.53 and a 200-day simple moving average of $1.94. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.37. Flux Power has a 12-month low of $1.15 and a 12-month high of $5.05.

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

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.