Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Given Consensus Rating of “Hold” by Brokerages

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) has been assigned an average rating of “Hold” from the four analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $3.25.

A number of equities research analysts recently issued reports on DFLI shares. Wall Street Zen cut shares of Dragonfly Energy from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Dragonfly Energy in a research report on Monday, December 29th. Canaccord Genuity Group decreased their price objective on shares of Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating on the stock 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

Shares of NASDAQ DFLI opened at $1.94 on Friday. The stock has a market cap of $23.44 million, a PE ratio of -0.06 and a beta of -0.12. The business has a fifty day moving average of $2.80 and a two-hundred day moving average of $5.85. Dragonfly Energy has a 52-week low of $1.50 and a 52-week high of $26.10.

Institutional Investors Weigh In On Dragonfly Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. J. Derek Lewis & Associates Inc. bought a new position in Dragonfly Energy in the 4th quarter valued at $163,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Dragonfly Energy during the fourth quarter worth $47,000. Essex Investment Management Co. LLC bought a new stake in shares of Dragonfly Energy during the fourth quarter worth $602,000. Alyeska Investment Group L.P. acquired a new stake in shares of Dragonfly Energy in the fourth quarter valued at $2,285,000. Finally, State Street Corp acquired a new stake in shares of Dragonfly Energy in the fourth quarter valued at $39,000. 8.19% of the stock is owned by institutional investors and hedge funds.

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.