Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Stock Short Interest Report for October

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) saw a large decline in short interest in October. As of October 15th, there was short interest totaling 129,629 shares, a decline of 90.3% from the September 30th total of 1,334,482 shares. Based on an average daily volume of 78,751 shares, the short-interest ratio is presently 1.6 days. Approximately 7.1% of the shares of the stock are short sold.

Dragonfly Energy Price Performance

NASDAQ DFLI traded down $0.11 during trading on Wednesday, hitting $2.25. 173,329 shares of the stock traded hands, compared to its average volume of 56,317. The company has a quick ratio of 0.97, a current ratio of 2.34 and a debt-to-equity ratio of 2.53. Dragonfly Energy has a 12-month low of $2.15 and a 12-month high of $100.80. The firm has a 50-day simple moving average of $6.43 and a 200-day simple moving average of $14.76. The company has a market capitalization of $4.21 million, a P/E ratio of -0.02 and a beta of 0.30.

Dragonfly Energy (NASDAQ:DFLI) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($3.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.72) by ($0.72). The firm had revenue of $13.16 million during the quarter, compared to analyst estimates of $13.18 million. As a group, analysts predict that Dragonfly Energy will post -13.36 EPS for the current year.

Hedge Funds Weigh In On Dragonfly Energy

An institutional investor recently raised its position in Dragonfly Energy stock. Cygnus Capital Advisors LLC grew its holdings in shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) by 130.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,593 shares of the company’s stock after buying an additional 35,442 shares during the quarter. Cygnus Capital Advisors LLC owned 0.42% of Dragonfly Energy worth $123,000 at the end of the most recent reporting period. 8.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DFLI shares. Roth Capital set a $24.00 price objective on shares of Dragonfly Energy in a report on Friday, August 7th. Zacks Research raised shares of Dragonfly Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of Dragonfly Energy from a “strong sell” rating to a “sell” rating in a report on Sunday, August 16th. Finally, Weiss Ratings downgraded shares of Dragonfly Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, October 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Dragonfly Energy currently has a consensus rating of “Hold” and a consensus target price of $25.00.

Dragonfly Energy Company Profile

Dragonfly Energy Holdings Corp. develops and manufactures lithium-ion battery systems and energy-storage technologies. Through its Battle Born Batteries brand, the company offers batteries and related power solutions designed for recreational vehicles, marine applications, off-grid systems, and other mobile and stationary energy-storage uses.

The company is also developing solid-state battery technology based on a dry powder coating manufacturing process. Dragonfly Energy’s technology is intended to support the production of safer, more efficient, and scalable energy-storage systems while reducing reliance on conventional liquid electrolyte designs.

Founded in 2012 and headquartered in Reno, Nevada, Dragonfly Energy serves customers in the United States and other markets through its battery products and energy-storage solutions.