Dragonfly Energy (NASDAQ:DFLI) Issues Q1 2024 Earnings Guidance

Dragonfly Energy (NASDAQ:DFLIGet Free Report) issued an update on its first quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of -0.170–0.130 for the period, compared to the consensus earnings per share estimate of -0.200. The company issued revenue guidance of $12.0 million-$13.0 million, compared to the consensus revenue estimate of $12.2 million.

Dragonfly Energy Stock Performance

Shares of Dragonfly Energy stock traded down $0.01 during trading on Monday, reaching $0.45. 4,641,454 shares of the stock were exchanged, compared to its average volume of 284,396. Dragonfly Energy has a 1 year low of $0.43 and a 1 year high of $6.35. The stock’s fifty day moving average is $0.51 and its 200 day moving average is $0.67.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Barclays PLC purchased a new position in Dragonfly Energy during the fourth quarter valued at $145,000. Northern Trust Corp raised its position in shares of Dragonfly Energy by 119.0% in the 2nd quarter. Northern Trust Corp now owns 27,351 shares of the company’s stock worth $40,000 after purchasing an additional 14,864 shares during the last quarter. UBS Group AG raised its position in shares of Dragonfly Energy by 191.4% in the 3rd quarter. UBS Group AG now owns 25,490 shares of the company’s stock worth $39,000 after purchasing an additional 16,743 shares during the last quarter. Geode Capital Management LLC boosted its stake in Dragonfly Energy by 32.6% in the 1st quarter. Geode Capital Management LLC now owns 76,697 shares of the company’s stock worth $230,000 after purchasing an additional 18,860 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Dragonfly Energy by 42.9% during the 2nd quarter. Wells Fargo & Company MN now owns 70,817 shares of the company’s stock valued at $105,000 after purchasing an additional 21,266 shares in the last quarter. 8.19% of the stock is currently owned by institutional investors.

About Dragonfly Energy

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Dragonfly Energy Holdings Corp. manufactures and supplies deep cycle lithium-ion batteries for recreational vehicles, marine vessels, off-grid installations, and other storage applications. The company also provides lithium power systems, including solar panels, chargers and inverters, system monitoring, alternator regulators, and accessories.

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