Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Short Interest Update

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 170,100 shares, an increase of 19.7% from the December 15th total of 142,100 shares. Currently, 4.4% of the shares of the stock are sold short. Based on an average trading volume of 69,100 shares, the days-to-cover ratio is currently 2.5 days.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lowered their price objective on shares of Dragonfly Energy from $13.50 to $11.25 and set a “buy” rating on the stock in a research report on Friday, November 15th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $15.66.

Dragonfly Energy Trading Down 4.8 %

Shares of Dragonfly Energy stock traded down $0.13 during trading on Friday, reaching $2.60. The company’s stock had a trading volume of 85,511 shares, compared to its average volume of 80,031. The company has a market cap of $18.24 million, a price-to-earnings ratio of -0.64 and a beta of -0.78. The firm’s 50-day moving average is $3.43 and its two-hundred day moving average is $4.87. Dragonfly Energy has a 52-week low of $2.50 and a 52-week high of $13.14. The company has a quick ratio of 0.31, a current ratio of 0.80 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Dragonfly Energy stock. Point72 Asia Singapore Pte. Ltd. bought a new position in Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 56,581 shares of the company’s stock, valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. owned 0.09% of Dragonfly Energy as of its most recent SEC filing. 8.19% of the stock is currently owned by 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.