Dragonfly Energy (NASDAQ:DFLI) Price Target Raised to $1.20

Dragonfly Energy (NASDAQ:DFLIFree Report) had its price target lifted by Stifel Nicolaus from $1.00 to $1.20 in a research note published on Thursday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other research firms have also weighed in on DFLI. Roth Capital reaffirmed a buy rating on shares of Dragonfly Energy in a report on Tuesday, April 16th. Chardan Capital reissued a buy rating and issued a $3.00 price target on shares of Dragonfly Energy in a report on Tuesday, April 16th. Roth Mkm increased their price objective on Dragonfly Energy from $0.90 to $1.50 and gave the stock a buy rating in a research report on Wednesday. Finally, Canaccord Genuity Group boosted their target price on Dragonfly Energy from $1.25 to $1.50 and gave the stock a buy rating in a research report on Wednesday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of Buy and a consensus target price of $1.80.

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Dragonfly Energy Price Performance

NASDAQ DFLI opened at $1.12 on Thursday. Dragonfly Energy has a 12-month low of $0.43 and a 12-month high of $4.45. The company has a fifty day simple moving average of $0.72 and a 200 day simple moving average of $0.62.

Dragonfly Energy (NASDAQ:DFLIGet Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Dragonfly Energy had a negative net margin of 50.04% and a negative return on equity of 114.66%. The business had revenue of $12.51 million during the quarter, compared to the consensus estimate of $12.11 million. During the same quarter last year, the company earned ($0.28) EPS. On average, equities analysts expect that Dragonfly Energy will post -0.55 earnings per share for the current year.

Institutional Investors Weigh In On Dragonfly Energy

A number of large investors have recently made changes to their positions in DFLI. KFG Wealth Management LLC lifted its holdings in Dragonfly Energy by 174.3% in the first quarter. KFG Wealth Management LLC now owns 308,830 shares of the company’s stock worth $167,000 after buying an additional 196,230 shares during the period. Koshinski Asset Management Inc. raised its holdings in Dragonfly Energy by 100.0% in the fourth quarter. Koshinski Asset Management Inc. now owns 240,000 shares of the company’s stock worth $130,000 after purchasing an additional 120,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Dragonfly Energy in the 3rd quarter worth about $34,000. 8.19% of the stock is currently owned by institutional investors.

About Dragonfly Energy

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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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