Dragonfly Energy (NASDAQ:DFLI) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Dragonfly Energy (NASDAQ:DFLI) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Several other brokerages also recently commented on DFLI. Zacks Research downgraded Dragonfly Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Dragonfly Energy in a research note on Monday, December 29th. Finally, Canaccord Genuity Group cut their price target on Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating for the company in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.08.

Dragonfly Energy Stock Down 1.5%

Shares of NASDAQ DFLI opened at $2.02 on Friday. The business’s 50 day moving average price is $2.95 and its two-hundred day moving average price is $5.89. The company has a market cap of $24.40 million, a PE ratio of -0.06 and a beta of -0.12. Dragonfly Energy has a twelve month low of $1.50 and a twelve month high of $26.10.

Hedge Funds Weigh In On Dragonfly Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp bought a new position in shares of Dragonfly Energy during the fourth quarter worth approximately $39,000. OMERS ADMINISTRATION Corp bought a new stake in Dragonfly Energy in the 4th quarter valued at $47,000. Legato Capital Management LLC acquired a new position in Dragonfly Energy in the 4th quarter valued at $185,000. Jane Street Group LLC acquired a new position in Dragonfly Energy in the 4th quarter valued at $266,000. Finally, KFG Wealth Management LLC increased its position in Dragonfly Energy by 85.4% during the 3rd quarter. KFG Wealth Management LLC now owns 184,124 shares of the company’s stock worth $110,000 after buying an additional 84,798 shares during the period. Institutional investors and hedge funds own 8.19% of the company’s stock.

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.