Dragonfly Energy (NASDAQ:DFLI) Given New $3.25 Price Target at Canaccord Genuity Group

Dragonfly Energy (NASDAQ:DFLI) had its price objective lowered by Canaccord Genuity Group from $22.50 to $3.25 in a research report sent to investors on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Dragonfly Energy in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.08.

Dragonfly Energy Trading Down 21.9%

Shares of DFLI opened at $2.28 on Tuesday. The firm has a market capitalization of $27.54 million, a P/E ratio of -0.07 and a beta of -0.12. Dragonfly Energy has a 12-month low of $1.50 and a 12-month high of $26.10. The firm has a fifty day moving average price of $3.06 and a 200-day moving average price of $5.93.

Dragonfly Energy (NASDAQ:DFLI) last posted its quarterly earnings results on Monday, March 23rd. The company reported ($14.92) EPS for the quarter, missing the consensus estimate of ($0.80) by ($14.12). The company had revenue of $13.06 million for the quarter, compared to the consensus estimate of $12.94 million. Analysts predict that Dragonfly Energy will post -6.48 earnings per share for the current year.

Hedge Funds Weigh In On Dragonfly Energy

Several hedge funds have recently bought and sold shares of the company. State Street Corp purchased a new position in shares of Dragonfly Energy in the fourth quarter valued at $39,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Dragonfly Energy in the fourth quarter valued at about $47,000. KFG Wealth Management LLC grew its position in shares of Dragonfly Energy by 85.4% in the third quarter. KFG Wealth Management LLC now owns 184,124 shares of the company’s stock valued at $110,000 after purchasing an additional 84,798 shares during the last quarter. Legato Capital Management LLC purchased a new position in shares of Dragonfly Energy during the 4th quarter worth approximately $185,000. Finally, Jane Street Group LLC purchased a new position in shares of Dragonfly Energy during the 4th quarter worth approximately $266,000. 8.19% of the stock is owned by hedge funds and other institutional investors.

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.