Dragonfly Energy (NASDAQ:DFLI) Stock Price Up 8.3% – Time to Buy?

Shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) rose 8.3% during trading on Wednesday . The company traded as high as $0.8696 and last traded at $0.8622. Approximately 9,782,490 shares changed hands during trading, a decline of 35% from the average daily volume of 15,143,998 shares. The stock had previously closed at $0.7963.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Chardan Capital upgraded Dragonfly Energy to a “strong-buy” rating in a report on Tuesday, October 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Dragonfly Energy in a research report on Monday. Wall Street Zen raised shares of Dragonfly Energy to a “hold” rating in a research report on Friday, September 26th. Finally, Canaccord Genuity Group boosted their price objective on shares of Dragonfly Energy from $1.00 to $2.25 and gave the stock a “buy” rating in a research note on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1.75.

Dragonfly Energy Stock Up 8.3%

The business’s 50 day moving average price is $1.05 and its 200-day moving average price is $0.56. The company has a market cap of $104.15 million, a PE ratio of -0.28 and a beta of -0.20.

Dragonfly Energy (NASDAQ:DFLI) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.51. The firm had revenue of $15.97 million for the quarter, compared to analyst estimates of $15.97 million. Equities analysts expect that Dragonfly Energy Holdings Corp. will post -6.48 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Dragonfly Energy stock. KFG Wealth Management LLC raised its holdings in shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) by 85.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 184,124 shares of the company’s stock after purchasing an additional 84,798 shares during the quarter. KFG Wealth Management LLC owned 0.30% of Dragonfly Energy worth $110,000 at the end of the most recent quarter. 8.19% of the stock is owned by institutional investors and hedge funds.

Dragonfly Energy Company Profile

Dragonfly Energy Holdings Corp. engages in the manufacturing and sale of deep cycle lithium-ion batteries for recreational vehicles, marine vessels, solar and off-grid residence industries, and industrial and energy storage markets. The company provides lithium power systems comprising solar panels, chargers and inverters, system monitoring, alternator regulators, accessories, and others.