Dragonfly Energy (NASDAQ:DFLI) Updates Q1 2024 Earnings Guidance

Dragonfly Energy (NASDAQ:DFLI) updated its first quarter 2024 earnings guidance on Monday. The company provided earnings per share guidance of -0.170–0.130 for the period, compared to the consensus earnings per share estimate of -0.200. The company issued revenue guidance of $12.0 million-$13.0 million, compared to the consensus revenue estimate of $12.2 million.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Roth Capital reaffirmed a buy rating on shares of Dragonfly Energy in a research note on Tuesday. Chardan Capital reaffirmed a buy rating and issued a $3.00 price objective on shares of Dragonfly Energy in a research note on Tuesday. Finally, Roth Mkm reaffirmed a buy rating and issued a $0.90 price objective on shares of Dragonfly Energy in a research note on Tuesday.

Dragonfly Energy Price Performance

Dragonfly Energy stock opened at $0.62 on Thursday. The stock’s 50 day moving average price is $0.52 and its 200 day moving average price is $0.66. Dragonfly Energy has a one year low of $0.43 and a one year high of $5.96.

Institutional Investors Weigh In On Dragonfly Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Dragonfly Energy by 32.6% during the 1st quarter. Geode Capital Management LLC now owns 76,697 shares of the company’s stock worth $230,000 after purchasing an additional 18,860 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in Dragonfly Energy during the 2nd quarter worth approximately $148,000. Barclays PLC purchased a new stake in Dragonfly Energy during the 4th quarter worth approximately $145,000. Charles Schwab Investment Management Inc. increased its holdings in Dragonfly Energy by 88.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 80,313 shares of the company’s stock worth $119,000 after purchasing an additional 37,595 shares during the last quarter. Finally, State Street Corp increased its holdings in Dragonfly Energy by 234.9% during the 1st quarter. State Street Corp now owns 36,500 shares of the company’s stock worth $110,000 after purchasing an additional 25,600 shares during the last quarter. 8.19% of the stock is currently owned by hedge funds and other institutional investors.

About Dragonfly Energy

Dragonfly Energy Holdings Corp. manufactures and supplies deep cycle lithium-ion batteries for recreational vehicles, marine vessels, off-grid installations, and other storage applications. The company also provides lithium power systems, including solar panels, chargers and inverters, system monitoring, alternator regulators, and accessories.