Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Short Interest Down 18.3% in February

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) was the recipient of a significant decrease in short interest in February. As of February 27th, there was short interest totaling 1,207,117 shares, a decrease of 18.3% from the February 12th total of 1,476,898 shares. Based on an average daily trading volume, of 284,037 shares, the days-to-cover ratio is currently 4.2 days. Currently, 10.3% of the shares of the stock are sold short. Currently, 10.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 284,037 shares, the days-to-cover ratio is currently 4.2 days.

Analyst Ratings Changes

Several equities analysts recently commented on DFLI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dragonfly Energy in a research note on Monday, December 29th. Canaccord Genuity Group raised their price target on shares of Dragonfly Energy from $10.00 to $22.50 and gave the company a “buy” rating in a report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.50.

Dragonfly Energy Price Performance

NASDAQ DFLI traded down $0.07 during trading on Monday, reaching $2.92. The company’s stock had a trading volume of 2,027,768 shares, compared to its average volume of 539,093. The firm has a fifty day moving average of $3.12 and a 200 day moving average of $5.93. Dragonfly Energy has a one year low of $1.50 and a one year high of $26.10. The stock has a market capitalization of $35.27 million, a PE ratio of -0.09 and a beta of -0.11.

Dragonfly Energy (NASDAQ:DFLI) last issued its quarterly earnings data on Monday, March 16th. The company reported ($14.92) EPS for the quarter. The firm had revenue of $13.06 million during the quarter. Research analysts expect that Dragonfly Energy will post -6.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dragonfly Energy

Institutional investors have recently made changes to their positions in the stock. Alyeska Investment Group L.P. purchased a new stake in shares of Dragonfly Energy during the 4th quarter valued at $2,285,000. Essex Investment Management Co. LLC bought a new position in Dragonfly Energy in the fourth quarter valued at $602,000. KFG Wealth Management LLC increased its stake in Dragonfly Energy by 85.4% in the third quarter. KFG Wealth Management LLC now owns 184,124 shares of the company’s stock valued at $110,000 after acquiring an additional 84,798 shares during the last quarter. Jane Street Group LLC purchased a new stake in Dragonfly Energy during the fourth quarter valued at about $266,000. Finally, Legato Capital Management LLC bought a new stake in 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.