Analysts Set Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Price Target at $11.08

Shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) have received an average recommendation of “Hold” from the four analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $3.25.

A number of research firms have weighed in on DFLI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dragonfly Energy in a report on Monday, December 29th. Wall Street Zen lowered shares of Dragonfly Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Canaccord Genuity Group reduced their price objective on shares of Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating for the company in a research note on Tuesday, March 17th. Finally, Zacks Research lowered shares of Dragonfly Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 18th.

Dragonfly Energy Stock Performance

NASDAQ:DFLI opened at $2.09 on Friday. The business’s fifty day moving average is $2.87 and its 200 day moving average is $5.90. The firm has a market cap of $25.25 million, a price-to-earnings ratio of -0.07 and a beta of -0.12. Dragonfly Energy has a 52-week low of $1.50 and a 52-week high of $26.10.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Alyeska Investment Group L.P. bought a new stake in Dragonfly Energy during the fourth quarter valued at $2,285,000. Essex Investment Management Co. LLC bought a new position in Dragonfly Energy in the 4th quarter worth about $602,000. Jane Street Group LLC bought a new position in Dragonfly Energy in the 4th quarter worth about $266,000. KFG Wealth Management LLC grew its holdings 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 in the last quarter. Finally, Legato Capital Management LLC purchased a new position in shares of Dragonfly Energy during the fourth quarter worth about $185,000. Institutional investors own 8.19% of the company’s stock.

About Dragonfly Energy

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.