Dragonfly Energy (NASDAQ:DFLI) Issues Earnings Results

Dragonfly Energy (NASDAQ:DFLI) announced its quarterly earnings results on Monday. The company reported ($14.92) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $13.06 million for the quarter.

Dragonfly Energy Price Performance

DFLI stock traded down $0.07 during midday trading on Monday, hitting $2.92. The stock had a trading volume of 2,079,848 shares, compared to its average volume of 539,093. The company’s 50-day moving average price is $3.12 and its 200 day moving average price is $5.93. The firm has a market cap of $35.27 million, a PE ratio of -0.09 and a beta of -0.11. Dragonfly Energy has a 12-month low of $1.50 and a 12-month high of $26.10.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DFLI. Canaccord Genuity Group upped their target price on Dragonfly Energy from $10.00 to $22.50 and gave the company a “buy” rating in a research note on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Dragonfly Energy in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.50.

Institutional Trading of Dragonfly Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp purchased a new position in shares of Dragonfly Energy during the 4th quarter worth about $39,000. OMERS ADMINISTRATION Corp purchased a new stake in Dragonfly Energy in the fourth quarter valued at approximately $47,000. Legato Capital Management LLC purchased a new stake in Dragonfly Energy in the fourth quarter valued at approximately $185,000. Jane Street Group LLC acquired a new position in Dragonfly Energy during the fourth quarter worth approximately $266,000. Finally, KFG Wealth Management LLC increased its position in Dragonfly Energy by 85.4% during the third quarter. KFG Wealth Management LLC now owns 184,124 shares of the company’s stock worth $110,000 after purchasing an additional 84,798 shares during the last quarter. Hedge funds and other institutional investors own 8.19% of the company’s stock.

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.