Dragonfly Energy (NASDAQ:DFLI) Rating Increased to Hold at Zacks Research

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

Other analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Dragonfly Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Dragonfly Energy in a research note on Friday, May 1st. Finally, Canaccord Genuity Group lowered their price target 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 investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Dragonfly Energy presently has an average rating of “Moderate Buy” and a consensus target price of $3.25.

Dragonfly Energy Stock Up 1.2%

Shares of NASDAQ:DFLI opened at $1.69 on Tuesday. The firm has a market capitalization of $21.65 million, a P/E ratio of -0.07 and a beta of 0.22. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.95 and a current ratio of 2.41. The stock has a 50 day moving average price of $1.92 and a 200-day moving average price of $2.44. Dragonfly Energy has a 52-week low of $1.50 and a 52-week high of $26.10.

Dragonfly Energy (NASDAQ:DFLI) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.52) by ($0.12). The company had revenue of $9.70 million during the quarter, compared to the consensus estimate of $9.47 million. As a group, equities research analysts anticipate that Dragonfly Energy will post -1.35 EPS for the current fiscal year.

Institutional Trading of Dragonfly Energy

Institutional investors have recently bought and sold shares of the company. State Street Corp bought a new position in Dragonfly Energy in the 4th quarter valued at approximately $39,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Dragonfly Energy in the 4th quarter worth $47,000. KFG Wealth Management LLC raised its stake in shares of Dragonfly Energy by 34.4% in the first quarter. KFG Wealth Management LLC now owns 28,097 shares of the company’s stock worth $49,000 after purchasing an additional 7,186 shares during the last quarter. J. Derek Lewis & Associates Inc. purchased a new position in shares of Dragonfly Energy in the fourth quarter worth $163,000. Finally, Legato Capital Management LLC purchased a new position in shares of Dragonfly Energy in the fourth quarter worth $185,000. 8.19% of the stock is owned by hedge funds and other institutional investors.

About Dragonfly Energy

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.