Roth Capital says that while Flux Power's Q3 results were well below estimates, the silver lining was management proactively restructured operations coming out of the prior quarter, offsetting what could have been much heavier losses. Management achieved a $4.6M reduction in outstanding receivables during the quarter, greatly benefiting liquidity. While cash has been impeccably managed in the past few quarters, Roth expects the balance sheet to become more of a focus for a couple quarters, and would be an opportunistic buyer on weakness. The firm maintains a Buy rating on the shares with a price target of $2.
