Dragonfly Energy (NASDAQ:DFLI) Price Target Lowered to $1.25 at Canaccord Genuity Group

Dragonfly Energy (NASDAQ:DFLI) had its price target cut by Canaccord Genuity Group from $1.50 to $1.25 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Dragonfly Energy Price Performance

Shares of NASDAQ DFLI traded down $0.04 during trading on Friday, hitting $0.49. The company had a trading volume of 359,563 shares, compared to its average volume of 545,044. The firm has a market capitalization of $30.78 million, a price-to-earnings ratio of -1.09 and a beta of -0.83. The stock has a fifty day simple moving average of $0.55 and a two-hundred day simple moving average of $0.73. The company has a quick ratio of 0.26, a current ratio of 0.90 and a debt-to-equity ratio of 0.01. Dragonfly Energy has a fifty-two week low of $0.43 and a fifty-two week high of $1.46.

Dragonfly Energy (NASDAQ:DFLI) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.06). Dragonfly Energy had a negative return on equity of 165.91% and a negative net margin of 59.58%. The firm had revenue of $13.21 million during the quarter, compared to analyst estimates of $14.17 million. On average, research analysts expect that Dragonfly Energy will post -0.73 earnings per share for the current year.

Institutional Investors Weigh In On Dragonfly Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in DFLI. KFG Wealth Management LLC boosted its holdings in shares of Dragonfly Energy by 37.2% during the 2nd quarter. KFG Wealth Management LLC now owns 423,830 shares of the company’s stock worth $359,000 after purchasing an additional 115,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Dragonfly Energy during the second quarter worth approximately $48,000. Finally, AQR Capital Management LLC purchased a new position in Dragonfly Energy during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 8.19% of the company’s stock.

Dragonfly Energy Company Profile

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.