Zacks Research Upgrades Dragonfly Energy (NASDAQ:DFLI) to Hold

Dragonfly Energy (NASDAQ:DFLI) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Dragonfly Energy in a report on Friday, May 1st. Wall Street Zen upgraded Dragonfly Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Canaccord Genuity Group lowered their price objective on shares of Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating for the company in a research report on Tuesday, March 17th. One research 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.25.

Dragonfly Energy Stock Up 1.2%

Shares of NASDAQ DFLI opened at $1.69 on Tuesday. Dragonfly Energy has a 12-month low of $1.50 and a 12-month high of $26.10. The company has a market cap of $21.65 million, a P/E ratio of -0.07 and a beta of 0.22. The company has a current ratio of 2.41, a quick ratio of 0.95 and a debt-to-equity ratio of 2.53. The stock has a fifty day moving average price of $1.92 and a 200 day moving average price of $2.44.

Dragonfly Energy (NASDAQ:DFLI) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.12). The business had revenue of $9.70 million during the quarter, compared to the consensus estimate of $9.47 million. Research analysts anticipate that Dragonfly Energy will post -1.35 EPS for the current fiscal year.

Institutional Trading of Dragonfly Energy

Several large investors have recently modified their holdings of the business. Essex Investment Management Co. LLC acquired a new position in shares of Dragonfly Energy in the fourth quarter worth about $602,000. Alyeska Investment Group L.P. purchased a new position in Dragonfly Energy in the fourth quarter valued at about $2,285,000. KFG Wealth Management LLC grew its stake in 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 purchasing an additional 7,186 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Dragonfly Energy during the 4th quarter valued at approximately $47,000. Finally, State Street Corp purchased a new stake in Dragonfly Energy during the 4th quarter worth approximately $39,000. 8.19% of the stock is currently owned by institutional investors and hedge funds.

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.