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In a challenging market environment, Flux Power Holdings Inc. (FLUX) has seen its stock price touch a 52-week low, reaching a price level of $1.26, marking a sharp 77% decline from its 52-week high of $5.46. According to InvestingPro analysis, the company currently shows signs of being undervalued. This downturn reflects a significant decline for the company, which specializes in advanced lithium-ion energy storage solutions. Over the past year, Flux Power’s stock has experienced a precipitous drop, with a 1-year total return of -73.15%. This substantial decline underscores the hurdles the company has faced, including significant debt burden and rapid cash burn, as highlighted by InvestingPro’s analysis. With a concerning current ratio of 0.92 and negative EBITDA of -$5.57M, investors are closely monitoring the company’s performance and potential strategies to rebound from this low point. For deeper insights into FLUX’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Flux Power Holdings, Inc. has faced several significant developments. The company received a notice from the Nasdaq Stock Market for non-compliance due to a late quarterly report filing for the period ending December 31, 2024. Flux Power has been given until March 10, 2025, to submit a compliance plan, with the possibility of an extension if accepted. Additionally, the company is addressing a shortfall in stockholders’ equity, having reported $194,000 against the Nasdaq’s minimum requirement of $2.5 million. Flux Power must present a plan by March 17, 2025, to address this issue.
In another development, Flux Power amended its loan agreement with Gibraltar Business Capital, adjusting the EBITDA covenant and agreeing to a $50,000 amendment fee. The company has also changed its independent accounting firm, appointing Haskell & White LLP to replace Baker Tilly US, LLP, following the latter’s decision not to seek re-election. Furthermore, Flux Power has appointed Kelly Frey as its new Chief Revenue Officer, succeeding Tod Kilgore. Frey brings over two decades of sales and marketing experience to the role, as the company aims to drive revenue growth and expand its market presence.
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