Dragonfly Energy (NASDAQ:DFLI) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Dragonfly Energy (NASDAQ:DFLI) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other equities analysts have also commented on DFLI. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Dragonfly Energy in a research report on Friday, May 1st. Wall Street Zen upgraded Dragonfly Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Canaccord Genuity Group dropped their price objective on Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.25.

Dragonfly Energy Stock Up 1.2%

Shares of DFLI opened at $1.69 on Tuesday. The firm has a fifty day moving average price of $1.92 and a 200-day moving average price of $2.44. The company has a current ratio of 2.41, a quick ratio of 0.95 and a debt-to-equity ratio of 2.53. The firm has a market capitalization of $21.65 million, a P/E ratio of -0.07 and a beta of 0.22. Dragonfly Energy has a 12-month low of $1.50 and a 12-month high of $26.10.

Dragonfly Energy (NASDAQ:DFLI) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.12). The company had revenue of $9.70 million for the quarter, compared to the consensus estimate of $9.47 million. Equities research analysts expect that Dragonfly Energy will post -1.35 earnings per share for the current year.

Institutional Investors Weigh In On Dragonfly Energy

Large investors have recently modified their holdings of the business. Alyeska Investment Group L.P. bought a new position in shares of Dragonfly Energy during the fourth quarter valued at approximately $2,285,000. Essex Investment Management Co. LLC bought a new position in Dragonfly Energy in the fourth quarter worth approximately $602,000. Jane Street Group LLC purchased a new stake in Dragonfly Energy during the fourth quarter worth $266,000. Legato Capital Management LLC purchased a new stake in Dragonfly Energy during the fourth quarter worth $185,000. Finally, J. Derek Lewis & Associates Inc. bought a new stake in Dragonfly Energy during the 4th quarter valued at $163,000. Institutional investors own 8.19% of the company’s stock.

Dragonfly Energy Company Profile

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.