Analysts Set Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Target Price at $11.08

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) has been given a consensus rating of “Hold” by the five analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $11.0833.

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of Dragonfly Energy from a “hold” rating to a “sell” rating in a report on Saturday. Canaccord Genuity Group lowered their price target on Dragonfly Energy from $22.50 to $3.25 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Zacks Research lowered Dragonfly Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Dragonfly Energy in a research note on Monday, December 29th.

Institutional Investors Weigh In On Dragonfly Energy

Several hedge funds and other institutional investors have recently modified their holdings of DFLI. OMERS ADMINISTRATION Corp acquired a new position in shares of Dragonfly Energy during the fourth quarter valued at about $47,000. Essex Investment Management Co. LLC bought a new position in Dragonfly Energy during the fourth quarter valued at about $602,000. Alyeska Investment Group L.P. bought a new position in Dragonfly Energy during the fourth quarter valued at about $2,285,000. State Street Corp acquired a new position in Dragonfly Energy in the 4th quarter valued at approximately $39,000. Finally, Jane Street Group LLC bought a new stake in shares of Dragonfly Energy in the 4th quarter worth approximately $266,000. Institutional investors and hedge funds own 8.19% of the company’s stock.

Dragonfly Energy Trading Down 1.5%

Shares of Dragonfly Energy stock opened at $2.02 on Friday. The firm has a fifty day simple moving average of $2.95 and a 200-day simple moving average of $5.91. The stock has a market capitalization of $24.40 million, a price-to-earnings ratio of -0.06 and a beta of -0.11. Dragonfly Energy has a 1-year low of $1.50 and a 1-year high of $26.10.

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.