Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Receives Average Rating of “Buy” from Analysts

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) has been assigned an average recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $1.74.

Separately, Canaccord Genuity Group decreased their target price on shares of Dragonfly Energy from $1.50 to $1.25 and set a “buy” rating on the stock in a research note on Friday.

Institutional Investors Weigh In On Dragonfly Energy

Several institutional investors have recently modified their holdings of DFLI. AQR Capital Management LLC purchased a new stake in Dragonfly Energy in the second quarter valued at $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Dragonfly Energy in the second quarter valued at $48,000. Finally, KFG Wealth Management LLC lifted its position in Dragonfly Energy by 37.2% in the second quarter. KFG Wealth Management LLC now owns 423,830 shares of the company’s stock valued at $359,000 after acquiring an additional 115,000 shares during the last quarter. 8.19% of the stock is owned by hedge funds and other institutional investors.

Dragonfly Energy Price Performance

DFLI traded down $0.03 during trading on Friday, reaching $0.50. The company’s stock had a trading volume of 104,535 shares, compared to its average volume of 543,759. The company has a quick ratio of 0.26, a current ratio of 0.90 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $0.55 and a two-hundred day simple moving average of $0.74. Dragonfly Energy has a 1 year low of $0.43 and a 1 year high of $1.46. The company has a market cap of $31.43 million, a price-to-earnings ratio of -0.98 and a beta of -0.83.

Dragonfly Energy (NASDAQ:DFLI) last released its earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06). Dragonfly Energy had a negative return on equity of 165.91% and a negative net margin of 59.58%. The business had revenue of $13.21 million during the quarter, compared to analysts’ expectations of $14.17 million. As a group, analysts anticipate that Dragonfly Energy will post -0.73 EPS for the current year.

Dragonfly Energy Company Profile

Dragonfly Energy Holdings Corp. engages in the manufacturing and sale of deep cycle lithium-ion batteries for recreational vehicles, marine vessels, solar and off-grid residence industries, and industrial and energy storage markets. The company provides lithium power systems comprising solar panels, chargers and inverters, system monitoring, alternator regulators, accessories, and others.