Dragonfly Energy (NASDAQ:DFLI) Stock Price Up 1.1% – What’s Next?

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI)’s share price rose 1.1% during trading on Monday . The company traded as high as $2.01 and last traded at $1.88. Approximately 311,479 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 459,163 shares. The stock had previously closed at $1.86.

Analyst Upgrades and Downgrades

DFLI has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Dragonfly Energy in a research note on Friday, May 1st. Canaccord Genuity Group decreased their price target on Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Zacks Research cut Dragonfly Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 18th. Finally, Wall Street Zen cut Dragonfly Energy from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.25.

Dragonfly Energy Stock Performance

The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.95 and a current ratio of 2.41. The company has a 50 day moving average price of $1.99 and a 200-day moving average price of $3.30.

Dragonfly Energy (NASDAQ:DFLI) last posted its earnings results on Thursday, May 14th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.12). The firm had revenue of $9.70 million during the quarter, compared to analysts’ expectations of $9.48 million. As a group, equities analysts anticipate that Dragonfly Energy Holdings Corp. will post -1.35 EPS for the current year.

Institutional Investors Weigh In On Dragonfly Energy

Hedge funds have recently made changes to their positions in the company. Essex Investment Management Co. LLC bought a new stake in shares of Dragonfly Energy during the fourth quarter valued at approximately $602,000. Alyeska Investment Group L.P. bought a new stake in shares of Dragonfly Energy during the fourth quarter valued at approximately $2,285,000. KFG Wealth Management LLC boosted its position in shares of Dragonfly Energy by 34.4% during the first quarter. KFG Wealth Management LLC now owns 28,097 shares of the company’s stock valued at $49,000 after purchasing an additional 7,186 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Dragonfly Energy during the fourth quarter valued at approximately $47,000. Finally, State Street Corp bought a new stake in shares of Dragonfly Energy during the fourth quarter valued at approximately $39,000. 8.19% of the stock is currently owned by institutional investors.

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.