Dragonfly Energy (NASDAQ:DFLI) Issues Q1 2024 Earnings Guidance

Dragonfly Energy (NASDAQ:DFLI) updated its first quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of -0.170–0.130 for the period, compared to the consensus estimate of -0.200. The company issued revenue guidance of $12.0 million-$13.0 million, compared to the consensus revenue estimate of $12.2 million.

Wall Street Analysts Forecast Growth

DFLI has been the topic of a number of research reports. Roth Mkm reiterated a buy rating and issued a $0.90 price target on shares of Dragonfly Energy in a research note on Tuesday. Chardan Capital reaffirmed a buy rating and issued a $3.00 price objective on shares of Dragonfly Energy in a report on Tuesday.

Dragonfly Energy Price Performance

Dragonfly Energy stock opened at $0.61 on Wednesday. The stock has a fifty day moving average of $0.52 and a 200-day moving average of $0.66. Dragonfly Energy has a 52 week low of $0.43 and a 52 week high of $6.35.

Institutional Investors Weigh In On Dragonfly Energy

A number of hedge funds have recently made changes to their positions in DFLI. Barclays PLC bought a new position in Dragonfly Energy in the 4th quarter valued at approximately $145,000. Northern Trust Corp lifted its holdings in shares of Dragonfly Energy by 119.0% during the second quarter. Northern Trust Corp now owns 27,351 shares of the company’s stock worth $40,000 after purchasing an additional 14,864 shares during the period. UBS Group AG grew its stake in shares of Dragonfly Energy by 191.4% in the third quarter. UBS Group AG now owns 25,490 shares of the company’s stock worth $39,000 after purchasing an additional 16,743 shares during the last quarter. Geode Capital Management LLC increased its holdings in Dragonfly Energy by 32.6% in the first quarter. Geode Capital Management LLC now owns 76,697 shares of the company’s stock valued at $230,000 after purchasing an additional 18,860 shares during the period. Finally, Wells Fargo & Company MN increased its position in Dragonfly Energy by 42.9% during the 2nd quarter. Wells Fargo & Company MN now owns 70,817 shares of the company’s stock valued at $105,000 after purchasing an additional 21,266 shares during the period. 8.19% of the stock is currently owned by institutional investors and hedge funds.

Dragonfly Energy Company Profile

Dragonfly Energy Holdings Corp. manufactures and supplies deep cycle lithium-ion batteries for recreational vehicles, marine vessels, off-grid installations, and other storage applications. The company also provides lithium power systems, including solar panels, chargers and inverters, system monitoring, alternator regulators, and accessories.