Dragonfly Energy (NASDAQ:DFLI) Updates Q1 2024 Earnings Guidance

Dragonfly Energy (NASDAQ:DFLI) updated its first quarter 2024 earnings guidance on Monday. The company provided EPS guidance of -0.170–0.130 for the period, compared to the consensus EPS estimate of -0.200. The company issued revenue guidance of $12.0 million-$13.0 million, compared to the consensus revenue estimate of $12.2 million.

Dragonfly Energy Trading Up 36.5 %

Shares of Dragonfly Energy stock opened at $0.61 on Wednesday. Dragonfly Energy has a 52-week low of $0.43 and a 52-week high of $6.35. The company’s 50-day simple moving average is $0.52 and its 200-day simple moving average is $0.66.

Wall Street Analysts Forecast Growth

DFLI has been the subject of several recent analyst reports. Roth Mkm reissued a buy rating and issued a $0.90 price target on shares of Dragonfly Energy in a report on Tuesday. Chardan Capital reissued a buy rating and issued a $3.00 target price on shares of Dragonfly Energy in a report on Tuesday.

Institutional Investors Weigh In On Dragonfly Energy

Several institutional investors have recently modified their holdings of DFLI. Nuveen Asset Management LLC increased its position in shares of Dragonfly Energy by 68.0% in the fourth quarter. Nuveen Asset Management LLC now owns 64,391 shares of the company’s stock valued at $35,000 after buying an additional 26,068 shares in the last quarter. UBS Group AG increased its holdings in Dragonfly Energy by 191.4% during the 3rd quarter. UBS Group AG now owns 25,490 shares of the company’s stock valued at $39,000 after acquiring an additional 16,743 shares in the last quarter. Northern Trust Corp raised its position in Dragonfly Energy by 119.0% during the second quarter. Northern Trust Corp now owns 27,351 shares of the company’s stock worth $40,000 after acquiring an additional 14,864 shares during the last quarter. Stifel Financial Corp purchased a new stake in shares of Dragonfly Energy in the second quarter valued at about $52,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Dragonfly Energy in the second quarter valued at approximately $72,000. Hedge funds and other institutional investors own 8.19% of the company’s stock.

Dragonfly Energy Company Profile

Dragonfly Energy Holdings Corp. manufactures and supplies deep cycle lithium-ion batteries for recreational vehicles, marine vessels, off-grid installations, and other storage applications. The company also provides lithium power systems, including solar panels, chargers and inverters, system monitoring, alternator regulators, and accessories.