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

Wall Street Zen cut shares of Dragonfly Energy (NASDAQ:DFLI) from a hold rating to a sell rating in a research note released on Saturday morning.

Several other research firms have also recently commented on DFLI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dragonfly Energy in a research note on Monday, December 29th. Canaccord Genuity Group dropped 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. Finally, Zacks Research cut Dragonfly Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.08.

Dragonfly Energy Trading Up 2.5%

DFLI stock opened at $2.07 on Friday. The firm has a market cap of $25.01 million, a PE ratio of -0.06 and a beta of -0.11. The stock has a 50-day moving average price of $2.91 and a 200-day moving average price of $5.90. Dragonfly Energy has a 1-year low of $1.50 and a 1-year high of $26.10.

Institutional Trading of Dragonfly Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp acquired a new position in Dragonfly Energy during the 4th quarter worth approximately $39,000. OMERS ADMINISTRATION Corp acquired a new stake in Dragonfly Energy in the fourth quarter valued at approximately $47,000. KFG Wealth Management LLC increased its holdings in shares of Dragonfly Energy by 85.4% during the third quarter. KFG Wealth Management LLC now owns 184,124 shares of the company’s stock valued at $110,000 after acquiring an additional 84,798 shares in the last quarter. J. Derek Lewis & Associates Inc. bought a new stake in shares of Dragonfly Energy during the fourth quarter valued at approximately $163,000. Finally, Legato Capital Management LLC acquired a new position in shares of Dragonfly Energy during the fourth quarter worth approximately $185,000. 8.19% of the stock is 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.