Dragonfly Energy (NASDAQ:DFLI) Shares Up 12.1% – Here’s Why

Shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) rose 12.1% on Friday . The stock traded as high as $3.00 and last traded at $2.88. Approximately 565,414 shares traded hands during trading, a decline of 7% from the average daily volume of 604,722 shares. The stock had previously closed at $2.57.

Analysts Set New Price Targets

DFLI has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Dragonfly Energy in a report on Monday, December 29th. Canaccord Genuity Group boosted their price objective on Dragonfly Energy from $10.00 to $22.50 and gave the company a “buy” rating in a research report on Monday, November 17th. 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Dragonfly Energy Stock Up 12.1%

The company has a market capitalization of $34.79 million, a P/E ratio of -0.09 and a beta of -0.14. The business has a fifty day moving average price of $4.63 and a 200 day moving average price of $5.98.

Dragonfly Energy (NASDAQ:DFLI) last announced its earnings results on Friday, November 14th. The company reported ($2.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($7.10) by $5.10. The firm had revenue of $15.97 million during the quarter, compared to analyst estimates of $15.97 million. As a group, equities analysts forecast that Dragonfly Energy Holdings Corp. will post -6.48 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Dragonfly Energy stock. Legato Capital Management LLC purchased a new position in shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 60,142 shares of the company’s stock, valued at approximately $185,000. Legato Capital Management LLC owned approximately 0.50% of Dragonfly Energy at the end of the most recent reporting period. 8.19% of the stock is owned by hedge funds and other institutional investors.

About Dragonfly Energy

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.