Dragonfly Energy (NASDAQ:DFLI) Trading Up 12.1% – What’s Next?

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI)’s stock price rose 12.1% during trading on Friday . The stock traded as high as $3.00 and last traded at $2.88. Approximately 565,414 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 604,722 shares. The stock had previously closed at $2.57.

Analyst Upgrades and Downgrades

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

Dragonfly Energy Stock Up 12.1%

The company’s fifty day moving average price is $4.63 and its 200 day moving average price is $5.98. The company has a market capitalization of $34.79 million, a P/E ratio of -0.09 and a beta of -0.14.

Dragonfly Energy (NASDAQ:DFLI) last issued its quarterly earnings results on Friday, November 14th. The company reported ($2.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($7.10) by $5.10. The company had revenue of $15.97 million for the quarter, compared to analyst estimates of $15.97 million. Research analysts predict that Dragonfly Energy Holdings Corp. will post -6.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dragonfly Energy

A hedge fund recently bought a new stake in Dragonfly Energy stock. Legato Capital Management LLC bought a new stake in Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 60,142 shares of the company’s stock, valued at approximately $185,000. Legato Capital Management LLC owned 0.50% of Dragonfly Energy as of its most recent SEC filing. 8.19% of the stock is owned by institutional investors.

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.