Dragonfly Energy (NASDAQ:DFLI) Stock Price Down 3.7% – Time to Sell?

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI)’s stock price fell 3.7% during trading on Wednesday . The company traded as low as $1.05 and last traded at $1.05. 139,194 shares were traded during trading, a decline of 41% from the average daily volume of 234,193 shares. The stock had previously closed at $1.09.

Analyst Ratings Changes

DFLI has been the subject of several recent analyst reports. Roth Capital set a $3.00 price target on Dragonfly Energy in a research note on Friday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Dragonfly Energy in a research note on Wednesday, July 29th. Zacks Research upgraded shares of Dragonfly Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen upgraded shares of Dragonfly Energy from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Dragonfly Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.12.

Dragonfly Energy Price Performance

The company has a market cap of $15.43 million, a P/E ratio of -0.06 and a beta of 0.25. The firm’s 50-day moving average is $1.32 and its two-hundred day moving average is $1.82. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.34 and a quick ratio of 0.97.

Dragonfly Energy (NASDAQ:DFLI) last released its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.09). The firm had revenue of $13.16 million during the quarter, compared to analysts’ expectations of $13.18 million. Analysts anticipate that Dragonfly Energy Holdings Corp. will post -1.67 earnings per share for the current year.

Hedge Funds Weigh In On Dragonfly Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cygnus Capital Advisors LLC increased its position in Dragonfly Energy by 130.5% during the 2nd quarter. Cygnus Capital Advisors LLC now owns 62,593 shares of the company’s stock valued at $123,000 after purchasing an additional 35,442 shares during the period. KFG Wealth Management LLC boosted its stake in shares of Dragonfly Energy by 34.4% during the first 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. J. Derek Lewis & Associates Inc. purchased a new position in Dragonfly Energy during the fourth quarter valued at approximately $163,000. OMERS ADMINISTRATION Corp bought a new position in Dragonfly Energy in the fourth quarter worth approximately $47,000. Finally, Essex Investment Management Co. LLC purchased a new stake in Dragonfly Energy during the fourth quarter worth $602,000. Institutional investors own 8.19% of the company’s stock.

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.