Dragonfly Energy (NASDAQ:DFLI) Price Target Cut to $1.25 by Analysts at Canaccord Genuity Group

Dragonfly Energy (NASDAQ:DFLI) had its target price dropped by Canaccord Genuity Group from $1.50 to $1.25 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 154.95% from the company’s previous close.

Dragonfly Energy Stock Performance

Shares of DFLI stock opened at $0.49 on Friday. Dragonfly Energy has a fifty-two week low of $0.43 and a fifty-two week high of $1.46. The stock’s 50-day moving average is $0.55 and its two-hundred day moving average is $0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.90 and a quick ratio of 0.26. The firm has a market cap of $30.78 million, a P/E ratio of -1.09 and a beta of -0.83.

Dragonfly Energy (NASDAQ:DFLI) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06). The firm had revenue of $13.21 million during the quarter, compared to analyst estimates of $14.17 million. Dragonfly Energy had a negative return on equity of 165.91% and a negative net margin of 59.58%. Analysts predict that Dragonfly Energy will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC bought a new stake in Dragonfly Energy in the second quarter worth $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Dragonfly Energy in the second quarter worth about $48,000. Finally, KFG Wealth Management LLC boosted its stake in shares of Dragonfly Energy by 37.2% during the 2nd quarter. KFG Wealth Management LLC now owns 423,830 shares of the company’s stock worth $359,000 after acquiring an additional 115,000 shares in the last quarter. Institutional investors own 8.19% of the company’s stock.

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.