Dragonfly Energy (NASDAQ:DFLI) Rating Lowered to Strong Sell at Zacks Research

Dragonfly Energy (NASDAQ:DFLI) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday,Zacks.com reports.

Several other brokerages have also weighed in on DFLI. Canaccord Genuity Group lowered their price objective on Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating for the company in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Dragonfly Energy in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.08.

Dragonfly Energy Stock Performance

DFLI opened at $2.05 on Wednesday. The company has a market capitalization of $24.76 million, a P/E ratio of -0.06 and a beta of -0.12. The company has a 50-day moving average of $2.99 and a 200-day moving average of $5.87. Dragonfly Energy has a 1-year low of $1.50 and a 1-year high of $26.10.

Institutional Investors Weigh In On Dragonfly Energy

A number of institutional investors have recently modified their holdings of the business. Alyeska Investment Group L.P. bought a new position in Dragonfly Energy in the fourth quarter worth about $2,285,000. Essex Investment Management Co. LLC bought a new stake in shares of Dragonfly Energy in the 4th quarter worth approximately $602,000. Jane Street Group LLC acquired a new stake in Dragonfly Energy in the fourth quarter worth $266,000. KFG Wealth Management LLC boosted 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 during the period. Finally, Legato Capital Management LLC bought a new stake in Dragonfly Energy in the 4th quarter valued at about $185,000. Institutional investors own 8.19% of the company’s stock.

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.