Dragonfly Energy (NASDAQ:DFLI) Trading 8.3% Higher – Here’s What Happened

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI)’s stock price was up 8.3% during mid-day trading on Wednesday . The company traded as high as $0.8696 and last traded at $0.8622. Approximately 9,782,490 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 15,143,998 shares. The stock had previously closed at $0.7963.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DFLI shares. Canaccord Genuity Group increased their price objective on shares of Dragonfly Energy from $1.00 to $2.25 and gave the company a “buy” rating in a research note on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dragonfly Energy in a research report on Monday. Wall Street Zen upgraded Dragonfly Energy to a “hold” rating in a research note on Friday, September 26th. Finally, Chardan Capital raised Dragonfly Energy to a “strong-buy” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1.75.

Dragonfly Energy Stock Performance

The company’s fifty day moving average price is $1.05 and its 200 day moving average price is $0.56. The firm has a market capitalization of $104.15 million, a price-to-earnings ratio of -0.28 and a beta of -0.20.

Dragonfly Energy (NASDAQ:DFLI) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.51. The business had revenue of $15.97 million for the quarter, compared to analyst estimates of $15.97 million. As a group, sell-side analysts expect that Dragonfly Energy Holdings Corp. will post -6.48 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Dragonfly Energy stock. KFG Wealth Management LLC increased its stake in shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) by 85.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,124 shares of the company’s stock after buying an additional 84,798 shares during the quarter. KFG Wealth Management LLC owned about 0.30% of Dragonfly Energy worth $110,000 at the end of the most recent quarter. 8.19% of the stock is owned by hedge funds and other institutional investors.

Dragonfly Energy Company Profile

Dragonfly Energy Holdings Corp. engages in the manufacturing and sale of deep cycle lithium-ion batteries for recreational vehicles, marine vessels, solar and off-grid residence industries, and industrial and energy storage markets. The company provides lithium power systems comprising solar panels, chargers and inverters, system monitoring, alternator regulators, accessories, and others.