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      Flux Power Holdings Inc. (FLUX) Stock Plummets Despite Promising Q4 2021 Financials - Stocks Telegraph

      By Shimrez Hyder

      Published on

      September 23, 2021

      5:03 PM UTC

      Flux Power Holdings Inc. (FLUX) Stock Plummets Despite Promising Q4 2021 Financials - Stocks Telegraph

      Flux Power Holdings Inc. (FLUX) stock prices plummeted by 20.35% some time after market trading commenced on September 23, 2021. This brought the price per share down to USD45.99 early on in the trading day.

      FLUX Stock Listed on Nasdaq

      The company reported being uplisted on the Nasdaq Capital Market under the ticker symbol FLUX. Before being uplisted, the company’s common stock was listed on the OTCQB. Following the uplisting, FLUX stock reported having raised USD$12.4 million in equity capital. This facilitated an increase in its shareholder base and included institutional investors. The company managed to convert USD$5.2 million of debt to equity, resulting in an elimination of all of its debt. This will serve to strengthen the company’s balance sheet and capital structure.

      Quarterly Developments

      FLUX stock launched the next generation of lithium-ion battery pack for end riders and center riders. This has been met with positive feedback from customers with substantial orders. Deliveries have also been initiated to the world’s largest meat processor, as well as two other major customers. These customers are a paper products and chemicals manufacturer and a packaging manufacturer. The onset of the global coronavirus pandemic disrupted deliveries to a global airline. The company recently announced the resumption of these deliveries.

      FLUX Stock’s Revenue Reports

      The fourth quarter of fiscal 2021 saw the company report revenues in the amount of USD$8.3 million. This is a 33% year-over-year increase from the USD$6.3 million reported in the fourth quarter of fiscal 2020. The yearly difference was largely driven by sales of larger LiFT Packs. Fiscal Q4 of 2021 represents the 12th consecutive quarter of year-over-year revenue increases.

      Gross Profit Reports

      Gross profit for the fourth fiscal quarter of 2021 was reported by FLUX stock in the amount of USD$1.8 million. This is comparable to the USD$1.1 million gross profit reported for the fourth quarter of fiscal 2021. The year-over-year increase was largely attributable to the higher sales volumes in the 2021 quarter. further consolidating the increase was the company’s revenue growth and gross margin improvement program.

      Future Outlook for FLUX Stock

      The company reported a promising quarter, as evidenced by the strength of its financial reports. FLUX stock is keen to capitalize on the momentum generated over the last several quarters. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value.

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