Dragonfly Energy (NASDAQ:DFLI) Stock Price Down 0.6% – Time to Sell?

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) fell 0.6% on Wednesday . The stock traded as low as $1.70 and last traded at $1.74. Approximately 195,958 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 395,133 shares. The stock had previously closed at $1.75.

Analysts Set New Price Targets

A number of research firms have issued reports on DFLI. 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 research note on Tuesday, March 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Dragonfly Energy in a report on Friday, May 1st. Wall Street Zen raised Dragonfly Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, Zacks Research downgraded Dragonfly Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Dragonfly Energy presently has a consensus rating of “Hold” and an average target price of $3.25.

Dragonfly Energy Price Performance

The stock has a market cap of $22.30 million, a PE ratio of -0.07 and a beta of 0.22. 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 business has a 50 day moving average price of $1.95 and a two-hundred day moving average price of $2.50.

Dragonfly Energy (NASDAQ:DFLI) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.12). The company had revenue of $9.70 million during the quarter, compared to the consensus estimate of $9.47 million. Research analysts expect that Dragonfly Energy Holdings Corp. will post -1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dragonfly Energy

Hedge funds have recently made changes to their positions in the business. KFG Wealth Management LLC grew its position in 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 buying an additional 7,186 shares during the period. State Street Corp bought a new stake in Dragonfly Energy in the fourth quarter worth about $39,000. OMERS ADMINISTRATION Corp bought a new stake in Dragonfly Energy in the fourth quarter worth about $47,000. J. Derek Lewis & Associates Inc. purchased a new position in Dragonfly Energy in the fourth quarter valued at about $163,000. Finally, Legato Capital Management LLC purchased a new position in Dragonfly Energy in the fourth quarter valued at about $185,000. 8.19% of the stock is currently owned by institutional investors.

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.