Dragonfly Energy (NASDAQ:DFLI) Stock Price Down 4.8% – What’s Next?

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) shares were down 4.8% on Tuesday. The stock traded as low as $2.73 and last traded at $2.78. Approximately 45,175 shares were traded during trading, a decline of 21% from the average session volume of 56,950 shares. The stock had previously closed at $2.92.

Analyst Upgrades and Downgrades

DFLI has been the topic of several research analyst reports. Zacks Research raised Dragonfly Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Weiss Ratings downgraded Dragonfly Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Wall Street Zen raised Dragonfly Energy from a “strong sell” rating to a “sell” rating in a report on Sunday, August 16th. Finally, Roth Capital set a $24.00 target price on Dragonfly Energy in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.00.

Dragonfly Energy Stock Performance

The company has a current ratio of 2.34, a quick ratio of 0.97 and a debt-to-equity ratio of 2.53. The company’s fifty day moving average price is $6.87 and its two-hundred day moving average price is $11.80.

Dragonfly Energy (NASDAQ:DFLI) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($3.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.72) by ($0.72). The business had revenue of $13.16 million during the quarter, compared to analysts’ expectations of $13.18 million. Analysts forecast that Dragonfly Energy Holdings Corp. will post -13.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dragonfly Energy

A hedge fund recently raised its position in Dragonfly Energy stock. Cygnus Capital Advisors LLC raised its holdings in Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) by 130.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,593 shares of the company’s stock after purchasing an additional 35,442 shares during the period. Cygnus Capital Advisors LLC owned about 0.42% of Dragonfly Energy worth $123,000 as of its most recent SEC filing. Institutional investors own 8.19% of the company’s stock.

Dragonfly Energy Company Profile

Dragonfly Energy Holdings Corp. develops and manufactures lithium-ion battery systems and energy-storage technologies. The company’s products are designed to replace traditional lead-acid batteries in applications that require reliable, rechargeable power and include battery packs, energy-storage systems, and related components.

Dragonfly Energy markets its batteries under the Battle Born Batteries brand, serving recreational vehicle, marine, off-grid, industrial, and other mobile or stationary-power applications.