Canaccord Genuity Group Has Lowered Expectations for Dragonfly Energy (NASDAQ:DFLI) Stock Price

Dragonfly Energy (NASDAQ:DFLI) had its target price lowered by Canaccord Genuity Group from $1.50 to $1.25 in a report released on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Dragonfly Energy Trading Up 2.4 %

DFLI stock opened at $0.50 on Friday. Dragonfly Energy has a 52 week low of $0.43 and a 52 week high of $1.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.26 and a current ratio of 0.90. The company’s 50-day simple moving average is $0.55 and its 200 day simple moving average is $0.73. The company has a market capitalization of $31.51 million, a PE ratio of -1.13 and a beta of -0.83.

Institutional Investors Weigh In On Dragonfly Energy

Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new stake in shares of Dragonfly Energy during the 2nd quarter valued at $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Dragonfly Energy in the second quarter valued at about $48,000. Finally, KFG Wealth Management LLC lifted its position in Dragonfly Energy by 37.2% during the second quarter. KFG Wealth Management LLC now owns 423,830 shares of the company’s stock worth $359,000 after purchasing an additional 115,000 shares during the period. Institutional investors and hedge funds own 8.19% of the company’s stock.

Dragonfly Energy Company Profile

Dragonfly Energy Holdings Corp. engages in the manufacturing and sale of deep cycle lithium-ion batteries for recreational vehicles, marine vessels, solar and off-grid residence industries, and industrial and energy storage markets. The company provides lithium power systems comprising solar panels, chargers and inverters, system monitoring, alternator regulators, accessories, and others.