Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Sees Significant Increase in Short Interest

Dragonfly Energy Holdings Corp. (NASDAQ:DFLIGet Free Report) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 3,400,000 shares, an increase of 5.3% from the March 31st total of 3,230,000 shares. Currently, 15.5% of the company’s stock are short sold. Based on an average trading volume of 745,800 shares, the days-to-cover ratio is currently 4.6 days.

Wall Street Analysts Forecast Growth

DFLI has been the subject of several recent research reports. Chardan Capital restated a “buy” rating and set a $3.00 price objective on shares of Dragonfly Energy in a report on Tuesday, April 16th. Roth Capital reiterated a “buy” rating on shares of Dragonfly Energy in a report on Tuesday, April 16th. Finally, Roth Mkm reiterated a “buy” rating and set a $0.90 price target on shares of Dragonfly Energy in a report on Tuesday, April 16th.

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Dragonfly Energy Price Performance

Shares of NASDAQ:DFLI opened at $1.01 on Friday. The company has a market capitalization of $60.87 million, a PE ratio of -3.74 and a beta of -0.85. The business has a fifty day moving average price of $0.59 and a two-hundred day moving average price of $0.62. Dragonfly Energy has a 1 year low of $0.43 and a 1 year high of $5.33.

Dragonfly Energy (NASDAQ:DFLIGet Free Report) last announced its quarterly earnings data on Monday, April 15th. The company reported $0.05 earnings per share (EPS) for the quarter. The firm had revenue of $10.44 million during the quarter. Dragonfly Energy had a negative return on equity of 110.79% and a negative net margin of 21.46%. Sell-side analysts anticipate that Dragonfly Energy will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. KFG Wealth Management LLC lifted its position in shares of Dragonfly Energy by 174.3% during the 1st quarter. KFG Wealth Management LLC now owns 308,830 shares of the company’s stock valued at $167,000 after buying an additional 196,230 shares during the last quarter. Koshinski Asset Management Inc. lifted its position in shares of Dragonfly Energy by 100.0% during the 4th quarter. Koshinski Asset Management Inc. now owns 240,000 shares of the company’s stock valued at $130,000 after buying an additional 120,000 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Dragonfly Energy during the 3rd quarter valued at $32,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Dragonfly Energy during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 8.19% of the company’s stock.

Dragonfly Energy Company Profile

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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.

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