These Analysts Slash Their Forecasts On Flux Power After Weak Q3 Results
Portfolio Pulse from Avi Kapoor
Flux Power Holdings Inc (NASDAQ:FLUX) reported Q3 financial results below expectations, with a GAAP loss of 16 cents per share against an expected 10 cents and sales of $14.457 million versus the estimated $15.345 million. Despite the weak results, CEO Ron Dutt highlighted efforts towards recovery and margin improvement. Following the announcement, Flux Power's shares fell 25.1% to $3.43. Analysts from Maxim Group and Craig-Hallum adjusted their price targets on FLUX, maintaining a Buy rating but lowering their targets.
May 10, 2024 | 6:13 pm
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Flux Power's Q3 earnings missed expectations, leading to a significant stock price drop. Analysts have adjusted their price targets but maintain a Buy rating, indicating a belief in the company's recovery potential.
The direct mention of Flux Power's worse-than-expected Q3 results and the subsequent stock price drop indicate a negative short-term impact. Analysts' adjustments to price targets, despite maintaining Buy ratings, reflect a tempered but still positive outlook, suggesting a potential for recovery. The significant share price drop post-earnings release directly impacts investor sentiment and could lead to short-term volatility.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100