Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Receives Average Rating of “Hold” from Brokerages

Shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) have earned a consensus rating of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $11.0833.

A number of analysts have recently issued reports on DFLI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Dragonfly Energy in a research note on Monday, December 29th. Zacks Research lowered shares of Dragonfly Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday. Finally, Canaccord Genuity Group dropped their price target on shares of Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating on the stock in a research note on Tuesday.

Institutional Trading of Dragonfly Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Alyeska Investment Group L.P. acquired a new position in shares of Dragonfly Energy in the fourth quarter worth about $2,285,000. Essex Investment Management Co. LLC acquired a new stake in Dragonfly Energy during the 4th quarter valued at approximately $602,000. KFG Wealth Management LLC increased its holdings in Dragonfly Energy by 85.4% during the 3rd quarter. KFG Wealth Management LLC now owns 184,124 shares of the company’s stock worth $110,000 after purchasing an additional 84,798 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Dragonfly Energy in the 4th quarter valued at approximately $266,000. Finally, Legato Capital Management LLC acquired a new position in shares of Dragonfly Energy in the 4th quarter valued at approximately $185,000. 8.19% of the stock is owned by hedge funds and other institutional investors.

Dragonfly Energy Stock Performance

Dragonfly Energy stock opened at $2.05 on Friday. The firm has a market capitalization of $24.76 million, a PE ratio of -0.06 and a beta of -0.12. Dragonfly Energy has a one year low of $1.50 and a one year high of $26.10. The stock’s 50 day moving average price is $2.99 and its 200 day moving average price is $5.87.

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.