Dragonfly Energy (NASDAQ:DFLI) Trading Up 1.1% – Should You Buy?

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI)’s share price shot up 1.1% during mid-day trading on Monday . The stock traded as high as $2.01 and last traded at $1.88. 311,479 shares were traded during trading, a decline of 32% from the average session volume of 459,163 shares. The stock had previously closed at $1.86.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DFLI. Zacks Research downgraded Dragonfly Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Dragonfly Energy in a report on Friday, May 1st. Canaccord Genuity Group dropped their target price on Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating for the company in a report on Tuesday, March 17th. Finally, Wall Street Zen downgraded Dragonfly Energy from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $3.25.

Dragonfly Energy Stock Up 1.1%

The company has a quick ratio of 0.95, a current ratio of 2.41 and a debt-to-equity ratio of 2.53. The company has a market cap of $24.08 million, a price-to-earnings ratio of -0.08 and a beta of 0.21. The stock has a fifty day moving average price of $1.99 and a two-hundred day moving average price of $3.37.

Dragonfly Energy (NASDAQ:DFLI) last posted its earnings results on Thursday, May 14th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.12). The firm had revenue of $9.70 million during the quarter, compared to the consensus estimate of $9.48 million. As a group, sell-side analysts expect that Dragonfly Energy Holdings Corp. will post -1.35 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. State Street Corp bought a new position in shares of Dragonfly Energy in the fourth quarter worth $39,000. OMERS ADMINISTRATION Corp bought a new position in shares of Dragonfly Energy in the fourth quarter worth $47,000. KFG Wealth Management LLC increased its position in shares of Dragonfly Energy by 34.4% in the first quarter. KFG Wealth Management LLC now owns 28,097 shares of the company’s stock worth $49,000 after purchasing an additional 7,186 shares during the period. J. Derek Lewis & Associates Inc. bought a new position in shares of Dragonfly Energy in the fourth quarter worth $163,000. Finally, Legato Capital Management LLC bought a new position in shares of Dragonfly Energy in the fourth quarter worth $185,000. Institutional investors own 8.19% of the company’s stock.

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.