Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Sees Large Decline in Short Interest

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 129,629 shares, a drop of 90.3% from the September 30th total of 1,334,482 shares. Based on an average daily volume of 78,751 shares, the short-interest ratio is presently 1.6 days. Approximately 7.1% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DFLI shares. Weiss Ratings downgraded shares of Dragonfly Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, October 21st. Wall Street Zen upgraded shares of Dragonfly Energy from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 16th. Roth Capital set a $24.00 price objective on Dragonfly Energy in a research note on Friday, August 7th. Finally, Zacks Research raised Dragonfly Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $25.00.

Dragonfly Energy Price Performance

NASDAQ:DFLI traded down $0.11 during mid-day trading on Monday, hitting $2.29. 42,119 shares of the company’s stock traded hands, compared to its average volume of 55,215. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.97 and a current ratio of 2.34. The company has a market cap of $4.28 million, a PE ratio of -0.02 and a beta of 0.30. The firm’s 50 day simple moving average is $6.58 and its 200 day simple moving average is $14.91. Dragonfly Energy has a 1 year low of $2.28 and a 1 year high of $108.80.

Dragonfly Energy (NASDAQ:DFLI) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($3.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.72) by ($0.72). The business had revenue of $13.16 million for the quarter, compared to the consensus estimate of $13.18 million. Sell-side analysts expect that Dragonfly Energy will post -13.36 EPS for the current year.

Institutional Trading of Dragonfly Energy

An institutional investor recently raised its stake in Dragonfly Energy stock. Cygnus Capital Advisors LLC grew its stake in shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) by 130.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,593 shares of the company’s stock after acquiring an additional 35,442 shares during the quarter. Cygnus Capital Advisors LLC owned about 0.42% of Dragonfly Energy worth $123,000 at the end of the most recent quarter. Institutional investors own 8.19% of the company’s stock.

About Dragonfly Energy

Dragonfly Energy Holdings Corp. develops and manufactures lithium-ion battery systems and energy-storage technologies. The company’s products are designed to replace traditional lead-acid batteries in applications that require reliable, rechargeable power and include battery packs, energy-storage systems, and related components.

Dragonfly Energy markets its batteries under the Battle Born Batteries brand, serving recreational vehicle, marine, off-grid, industrial, and other mobile or stationary-power applications.