Dragonfly Energy (NASDAQ:DFLI) Stock Rating Lowered by Wall Street Zen

Dragonfly Energy (NASDAQ:DFLI) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other brokerages also recently commented on DFLI. Canaccord Genuity Group lowered their target price on Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating for the company in a research note on Tuesday. Zacks Research downgraded shares of Dragonfly Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dragonfly Energy in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Dragonfly Energy has a consensus rating of “Hold” and an average target price of $11.08.

Dragonfly Energy Price Performance

Shares of NASDAQ:DFLI opened at $2.02 on Friday. Dragonfly Energy has a 1 year low of $1.50 and a 1 year high of $26.10. The stock has a market capitalization of $24.40 million, a price-to-earnings ratio of -0.06 and a beta of -0.12. The company’s 50 day simple moving average is $2.95 and its 200 day simple moving average is $5.87.

Hedge Funds Weigh In On Dragonfly Energy

A number of institutional investors and hedge funds have recently bought and sold shares of DFLI. State Street Corp acquired a new stake in shares of Dragonfly Energy during the fourth quarter valued at about $39,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Dragonfly Energy in the fourth quarter valued at approximately $47,000. KFG Wealth Management LLC raised its holdings in Dragonfly Energy by 85.4% in the 3rd quarter. KFG Wealth Management LLC now owns 184,124 shares of the company’s stock valued at $110,000 after buying an additional 84,798 shares during the last quarter. Legato Capital Management LLC bought a new position in Dragonfly Energy in the 4th quarter valued at approximately $185,000. Finally, Jane Street Group LLC acquired a new stake in Dragonfly Energy during the 4th quarter worth approximately $266,000. Institutional investors and hedge funds 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.