Brokerages Set Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Target Price at $1.79

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) has been given a consensus recommendation of “Buy” by the six brokerages that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $1.79.

Several equities analysts have recently commented on the company. Alliance Global Partners initiated coverage on Dragonfly Energy in a research report on Thursday, May 23rd. They issued a “buy” rating and a $1.75 price objective on the stock. Canaccord Genuity Group lifted their target price on Dragonfly Energy from $1.25 to $1.50 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Chardan Capital reaffirmed a “buy” rating and issued a $3.00 target price on shares of Dragonfly Energy in a report on Tuesday, April 16th. Roth Mkm lifted their target price on Dragonfly Energy from $0.90 to $1.50 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, Stifel Nicolaus lifted their target price on Dragonfly Energy from $1.00 to $1.20 and gave the stock a “buy” rating in a report on Thursday, May 16th.

Institutional Investors Weigh In On Dragonfly Energy

An institutional investor recently raised its position in Dragonfly Energy stock. KFG Wealth Management LLC boosted its stake in shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) by 174.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 308,830 shares of the company’s stock after acquiring an additional 196,230 shares during the quarter. KFG Wealth Management LLC owned about 0.51% of Dragonfly Energy worth $167,000 as of its most recent SEC filing. Institutional investors own 8.19% of the company’s stock.

Dragonfly Energy Stock Down 4.3 %

Shares of Dragonfly Energy stock opened at $0.62 on Tuesday. The stock’s 50-day simple moving average is $0.82 and its 200-day simple moving average is $0.73. Dragonfly Energy has a 52 week low of $0.43 and a 52 week high of $2.16. The company has a market capitalization of $37.91 million, a price-to-earnings ratio of -1.15 and a beta of -0.78.

Dragonfly Energy (NASDAQ:DFLI) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Dragonfly Energy had a negative net margin of 50.04% and a negative return on equity of 114.66%. The business had revenue of $12.51 million during the quarter, compared to analysts’ expectations of $12.11 million. During the same quarter in the previous year, the firm earned ($0.28) earnings per share. On average, equities analysts expect that Dragonfly Energy will post -0.59 earnings per share 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.