Dragonfly Energy (NASDAQ:DFLI) Rating Lowered to “Strong Sell” at Wall Street Zen

Dragonfly Energy (NASDAQ:DFLI) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Saturday.

DFLI has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Dragonfly Energy in a report on Wednesday, July 29th. Zacks Research raised shares of Dragonfly Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Roth Capital set a $3.00 target price on Dragonfly Energy in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $3.12.

Dragonfly Energy Stock Performance

DFLI opened at $1.32 on Friday. Dragonfly Energy has a 52-week low of $1.10 and a 52-week high of $26.10. 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 market cap of $16.92 million, a P/E ratio of -0.07 and a beta of 0.25. The firm’s 50-day moving average price is $1.69 and its 200-day moving average price is $2.14.

Dragonfly Energy (NASDAQ:DFLI) last released its earnings results on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.09). The company had revenue of $13.16 million for the quarter, compared to the consensus estimate of $13.18 million. As a group, equities analysts anticipate that Dragonfly Energy will post -1.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp purchased a new stake in Dragonfly Energy in the fourth quarter valued at $39,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Dragonfly Energy during the 4th quarter valued at about $47,000. KFG Wealth Management LLC raised its stake in shares of Dragonfly Energy by 34.4% during the 1st quarter. KFG Wealth Management LLC now owns 28,097 shares of the company’s stock valued at $49,000 after buying an additional 7,186 shares during the last quarter. J. Derek Lewis & Associates Inc. acquired a new position in shares of Dragonfly Energy in the 4th quarter valued at about $163,000. Finally, Legato Capital Management LLC acquired a new position in shares of Dragonfly Energy in the 4th quarter valued at about $185,000. 8.19% of the stock is currently owned by institutional investors and hedge funds.

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.