Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Receives Average Recommendation of “Hold” from Analysts

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) has received an average rating of “Hold” from the five research firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $11.0833.

Several brokerages have recently issued reports on DFLI. Zacks Research cut shares of Dragonfly Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Canaccord Genuity Group reduced their target price on Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating on the stock in a report on Tuesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Dragonfly Energy in a research report on Monday, December 29th.

Hedge Funds Weigh In On Dragonfly Energy

A number of hedge funds have recently made changes to their positions in DFLI. State Street Corp acquired a new position in shares of Dragonfly Energy during the 4th quarter valued at $39,000. OMERS ADMINISTRATION Corp acquired a new stake in Dragonfly Energy in the 4th quarter valued at $47,000. KFG Wealth Management LLC raised its position in Dragonfly Energy by 85.4% in the third quarter. KFG Wealth Management LLC now owns 184,124 shares of the company’s stock valued at $110,000 after purchasing an additional 84,798 shares during the period. Legato Capital Management LLC purchased a new position in Dragonfly Energy in the fourth quarter valued at about $185,000. Finally, Jane Street Group LLC acquired a new position in shares of Dragonfly Energy during the fourth quarter worth about $266,000. Hedge funds and other institutional investors own 8.19% of the company’s stock.

Dragonfly Energy Stock Performance

Shares of DFLI stock opened at $2.05 on Friday. Dragonfly Energy has a one year low of $1.50 and a one year high of $26.10. The company has a 50 day moving average price of $2.99 and a 200 day moving average price of $5.87. The firm has a market capitalization of $24.76 million, a price-to-earnings ratio of -0.06 and a beta of -0.12.

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.