In recent trading activity, Lisa Walters-Hoffert, a director at Flux Power Holdings, Inc. (NASDAQ:FLUX), sold 5,909 shares of the company's common stock. The transactions, which took place on April 22, 2024, resulted in a total sale value of approximately $23,829, with the shares being sold at a weighted average price ranging from $4.02 to $4.10.
This sale was executed in accordance with a Rule 10b5-1 trading plan, which Walters-Hoffert had previously adopted on June 13, 2023. Such plans allow company insiders to establish prearranged plans to sell stocks at a predetermined time to avoid accusations of insider trading.
In addition to the sale, Walters-Hoffert also acquired 16,883 shares of Flux Power Holdings common stock on April 20, 2024, through the vesting of restricted stock units (RSUs). The RSUs, which were granted on April 20, 2023, vested one year later and converted into common stock on a one-for-one basis.
Following these transactions, Walters-Hoffert's direct ownership in the company stands at 26,058 shares of common stock. The director also received a grant of 17,057 RSUs on April 18, 2024, as part of the company's 2021 Equity Incentive Plan. These units are scheduled to vest on April 18, 2025, and will convert into common stock if certain conditions are met.
Flux Power Holdings, Inc., based in Vista, California, is known for its development and distribution of advanced energy storage systems and solutions. The company's stock is traded under the ticker symbol FLUX on the NASDAQ stock exchange.
InvestingPro Insights
Amid the recent insider trading activity at Flux Power Holdings, Inc. (FLUX), investors may find it useful to consider the company's current financial metrics and analyst projections. According to InvestingPro data, Flux Power has a market capitalization of $66.96 million and is trading at a high Price / Book multiple of 9.07 as of the last twelve months ending Q2 2024. The company's revenue for the same period stands at $64.48 million, with a modest revenue growth of 1.75%.
InvestingPro Tips suggest that analysts are not expecting the company to be profitable this year, which aligns with the company's reported operating loss of $4.37 million and a negative operating income margin of -6.78%. The stock has also experienced volatility, with a 1-week price total return of -11.76% and a significant 3-month price total decline of -19.0%, indicating recent bearish sentiment among investors.
Despite the recent sale by director Lisa Walters-Hoffert, it is important to note that the company operates with a moderate level of debt and has not been profitable over the last twelve months. Additionally, FLUX does not pay a dividend to shareholders, which might be a consideration for income-focused investors. For those looking for a deeper dive into the company's prospects, there are 6 additional InvestingPro Tips available at InvestingPro. To access these insights and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.