Dragonfly Energy (NASDAQ:DFLI) Lowered to Sell Rating by Wall Street Zen

Dragonfly Energy (NASDAQ:DFLI) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other research firms have also commented on DFLI. Canaccord Genuity Group reduced their price target on Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating on the stock in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Dragonfly Energy in a research report on Monday, December 29th. Finally, Zacks Research cut Dragonfly Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.08.

Dragonfly Energy Stock Down 1.5%

Shares of Dragonfly Energy stock opened at $2.02 on Friday. The stock has a market cap of $24.40 million, a price-to-earnings ratio of -0.06 and a beta of -0.12. Dragonfly Energy has a twelve month low of $1.50 and a twelve month high of $26.10. The company’s fifty day moving average is $2.95 and its 200 day moving average is $5.87.

Institutional Inflows and Outflows

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

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.