Dragonfly Energy (NASDAQ:DFLI) Issues Earnings Results

Dragonfly Energy (NASDAQ:DFLI) announced its quarterly earnings data on Thursday. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.12), FiscalAI reports. The business had revenue of $9.70 million during the quarter, compared to analyst estimates of $9.48 million.

Here are the key takeaways from Dragonfly Energy’s conference call:

• Dragonfly Energy said Q1 results came in above guidance for both net sales and adjusted EBITDA, even though the RV market remained soft.
• The company announced its largest trucking order to date, a more than $3 million Stevens Transport purchase covering nearly 500 trucks, with deliveries starting in Q2 and ramping through 2026.
• Management highlighted improving economics in heavy-duty trucking, saying higher diesel prices have shortened payback periods for its solutions to under 10 months, supporting fleet adoption.
• Dragonfly Energy implemented cost cuts that are expected to drive about $9 million in annualized adjusted EBITDA improvement, including workforce and marketing reductions plus lower rental expense.
• For Q2, the company guided to $13.2 million in net sales and a smaller adjusted EBITDA loss of about $1.9 million, while reiterating its long-term target of positive adjusted EBITDA at a roughly $70 million annualized sales run rate.

Dragonfly Energy Stock Down 3.8%

Dragonfly Energy stock traded down $0.07 during midday trading on Friday, hitting $1.86. 425,767 shares of the company’s stock were exchanged, compared to its average volume of 515,282. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.31 and a current ratio of 2.54. The company has a market cap of $22.55 million, a PE ratio of -0.06 and a beta of 0.19. The firm has a 50-day moving average of $2.13 and a two-hundred day moving average of $4.29. Dragonfly Energy has a 12 month low of $1.50 and a 12 month high of $26.10.

Analysts Set New Price Targets

DFLI has been the subject of a number of research analyst reports. Canaccord Genuity Group reduced their price target on shares of Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating for the company in a research note on Tuesday, March 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Dragonfly Energy in a research note on Friday, May 1st. Wall Street Zen downgraded Dragonfly Energy from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Finally, Zacks Research lowered Dragonfly Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, Dragonfly Energy currently has an average rating of “Hold” and an average target price of $3.25.

Hedge Funds Weigh In On Dragonfly Energy

Several institutional investors and hedge funds have recently bought and sold shares of DFLI. OMERS ADMINISTRATION Corp purchased a new stake in shares of Dragonfly Energy during the 4th quarter valued at $47,000. Essex Investment Management Co. LLC purchased a new stake in shares of Dragonfly Energy during the fourth quarter worth about $602,000. Alyeska Investment Group L.P. acquired a new position in shares of Dragonfly Energy during the fourth quarter valued at about $2,285,000. State Street Corp purchased a new position in shares of Dragonfly Energy in the 4th quarter valued at approximately $39,000. Finally, Jane Street Group LLC purchased a new stake in Dragonfly Energy in the 4th quarter worth $266,000. 8.19% of the stock is owned by hedge funds and other 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.