Short Interest in Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Drops By 89.6%

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) saw a significant drop in short interest in December. As of December 31st, there was short interest totaling 1,489,582 shares, a drop of 89.6% from the December 15th total of 14,315,118 shares. Based on an average daily trading volume, of 1,412,467 shares, the short-interest ratio is currently 1.1 days. Approximately 12.7% of the company’s stock are sold short. Approximately 12.7% of the company’s stock are sold short. Based on an average daily trading volume, of 1,412,467 shares, the short-interest ratio is currently 1.1 days.

Institutional Investors Weigh In On Dragonfly Energy

An institutional investor recently raised its position in Dragonfly Energy stock. KFG Wealth Management LLC increased its stake in Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) by 85.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 184,124 shares of the company’s stock after buying an additional 84,798 shares during the quarter. KFG Wealth Management LLC owned about 0.30% of Dragonfly Energy worth $110,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 8.19% of the company’s stock.

Dragonfly Energy Stock Performance

DFLI traded up $0.16 on Monday, hitting $4.07. 477,165 shares of the company were exchanged, compared to its average volume of 1,090,299. Dragonfly Energy has a fifty-two week low of $1.50 and a fifty-two week high of $31.80. The firm has a market capitalization of $49.17 million, a P/E ratio of -0.13 and a beta of -0.15. The business’s fifty day moving average is $6.49 and its 200 day moving average is $5.79.

Dragonfly Energy (NASDAQ:DFLI) last announced its earnings results on Friday, November 14th. The company reported ($2.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($7.10) by $5.10. The business had revenue of $15.97 million for the quarter, compared to analyst estimates of $15.97 million. Analysts forecast that Dragonfly Energy will post -6.48 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Dragonfly Energy in a research report on Monday, December 29th. Canaccord Genuity Group lifted their target price on shares of Dragonfly Energy from $10.00 to $22.50 and gave the company a “buy” rating in a report on Monday, November 17th. Chardan Capital raised shares of Dragonfly Energy to a “strong-buy” rating in a report on Tuesday, October 7th. Finally, Wall Street Zen upgraded shares of Dragonfly Energy to a “hold” rating in a research report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.50.

Dragonfly Energy Company Profile

Dragonfly Energy Corp. is a designer and manufacturer of lithium iron phosphate (LiFePO4) battery systems geared toward mobile, residential and commercial energy storage applications. The company develops modular battery packs and integrated power management solutions that focus on safety, long cycle life and compact form factors. Dragonfly’s core product lineup includes 12-volt and 24-volt battery modules, as well as multi-unit rack systems tailored for backup power, solar energy storage and off-grid installations.

Serving a broad range of end markets, Dragonfly Energy’s batteries are commonly deployed in recreational vehicles, marine vessels, overland expedition setups and residential solar arrays.