Dragonfly Energy (NASDAQ:DFLI) Stock Gets Downgrade from Wall Street Zen

Dragonfly Energy (NASDAQ:DFLI) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities analysts have also issued research reports about the stock. Roth Capital set a $24.00 price objective on shares of Dragonfly Energy in a research report on Friday, August 7th. 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 investment 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $25.00.

Dragonfly Energy Trading Down 15.6%

Shares of Dragonfly Energy stock opened at $1.79 on Friday. The business has a fifty day simple moving average of $4.63 and a 200-day simple moving average of $12.84. Dragonfly Energy has a fifty-two week low of $1.65 and a fifty-two week high of $78.66. The firm has a market cap of $3.35 million, a price-to-earnings ratio of -0.01 and a beta of 0.39. 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 (NASDAQ:DFLI) last released its earnings results on Thursday, November 12th. The company reported ($3.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.04) by ($0.67). Dragonfly Energy had a negative return on equity of 584.92% and a negative net margin of 128.05%. The firm had revenue of $12.17 million for the quarter, compared to analyst estimates of $13.54 million. On average, equities analysts forecast that Dragonfly Energy will post -13.36 EPS for the current fiscal year.

Institutional Trading of Dragonfly Energy

A hedge fund recently raised its stake in Dragonfly Energy stock. Cygnus Capital Advisors LLC grew its position in Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) by 130.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,593 shares of the company’s stock after buying an additional 35,442 shares during the quarter. Cygnus Capital Advisors LLC owned approximately 0.42% of Dragonfly Energy worth $123,000 at the end of the most recent quarter. Institutional investors and hedge funds own 8.19% of the company’s stock.

About Dragonfly Energy

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.