Dragonfly Energy (NASDAQ:DFLI) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Dragonfly Energy (NASDAQ:DFLI) from a sell rating to a strong sell rating in a report published on Saturday.

Several other equities analysts have also commented on the stock. Zacks Research raised shares of Dragonfly Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Roth Capital set a $3.00 price objective on shares of Dragonfly Energy in a research note on Friday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Dragonfly Energy in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $3.12.

Dragonfly Energy Stock Down 0.8%

DFLI opened at $1.31 on Friday. Dragonfly Energy has a 12 month low of $1.10 and a 12 month high of $26.10. The business has a 50-day moving average of $1.67 and a two-hundred day moving average of $2.12. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.41 and a quick ratio of 0.95. The stock has a market capitalization of $16.78 million, a price-to-earnings ratio of -0.07 and a beta of 0.25.

Dragonfly Energy (NASDAQ:DFLI) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.09). The firm had revenue of $13.16 million for the quarter, compared to analyst estimates of $13.18 million. On average, research analysts expect that Dragonfly Energy will post -1.35 earnings per share for the current year.

Institutional Trading of Dragonfly Energy

Institutional investors have recently modified their holdings of the company. Essex Investment Management Co. LLC purchased a new position in Dragonfly Energy in the fourth quarter valued at approximately $602,000. Alyeska Investment Group L.P. acquired a new position in Dragonfly Energy during the fourth quarter valued at approximately $2,285,000. KFG Wealth Management LLC grew its stake in Dragonfly Energy by 34.4% during the first quarter. KFG Wealth Management LLC now owns 28,097 shares of the company’s stock worth $49,000 after buying an additional 7,186 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in shares of Dragonfly Energy in the fourth quarter worth $47,000. Finally, State Street Corp acquired a new stake in shares of Dragonfly Energy in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 8.19% of the company’s stock.

About Dragonfly Energy

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.