Dragonfly Energy (NASDAQ:DFLI) Rating Increased to Hold at Zacks Research

Dragonfly Energy (NASDAQ:DFLI) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on DFLI. Weiss Ratings reiterated a “sell (e+)” rating on shares of Dragonfly Energy in a research note on Friday, May 1st. Canaccord Genuity Group reduced their price objective on Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Finally, Wall Street Zen raised Dragonfly Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $3.25.

Dragonfly Energy Stock Performance

Shares of DFLI stock opened at $1.69 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 2.41 and a debt-to-equity ratio of 2.53. The company has a 50 day moving average price of $1.92 and a 200-day moving average price of $2.44. Dragonfly Energy has a 52 week low of $1.50 and a 52 week high of $26.10. The firm has a market capitalization of $21.65 million, a PE ratio of -0.07 and a beta of 0.22.

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

Hedge Funds Weigh In On Dragonfly Energy

A number of institutional investors have recently bought and sold shares of DFLI. State Street Corp purchased a new position in Dragonfly Energy during the fourth quarter valued at $39,000. OMERS ADMINISTRATION Corp bought a new position in shares of Dragonfly Energy in the fourth quarter worth about $47,000. KFG Wealth Management LLC raised its stake in shares of Dragonfly Energy by 34.4% in the first quarter. KFG Wealth Management LLC now owns 28,097 shares of the company’s stock worth $49,000 after buying an additional 7,186 shares during the period. J. Derek Lewis & Associates Inc. purchased a new position in shares of Dragonfly Energy during the 4th quarter valued at about $163,000. Finally, Legato Capital Management LLC bought a new position in shares of Dragonfly Energy during the 4th quarter valued at approximately $185,000. 8.19% of the stock is 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.