UPDATE: H.C. Wainwright Starts Flux Power Holdings (FLUX) at Buy

H.C. Wainwright analyst Amit Dayal initiates coverage on Flux Power Holdings (NASDAQ: FLUX) with a Buy rating and a price target of $15.00.

The analyst comments "Commercialization accelerating for material handling electrification offerings. Flux Power Holdings Inc. is a Nevada based company that provides advanced rechargeable lithium-ion batteries, with a focus on industrial applications. The company’s LiFT battery packs are currently targeting Class 1, 2, and 3 lift trucks, and airport ground support equipment (GSE). The company has sold over 8,000 packs in the field to customers through multiple sales channels, including direct to end-users, original equipment manufacturers (OEMs), lift equipment dealers, and battery distributors. Flux’s products have been approved for use by major industrial motive manufacturers, including Toyota Material Handling USA Inc. (TM; not rated), Crown Equipment Corporation, and The Raymond Corporation. In line with this, the company's revenues grew by 80.8% in FY2020 and 55.9% in FY2021. We are projecting revenues to further grow by 46.8% in FY2022."

For an analyst ratings summary and ratings history on Flux Power Holdings click here. For more ratings news on Flux Power Holdings click here.

Shares of Flux Power Holdings closed at $4.83 yesterday.

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