Dragonfly Energy (NASDAQ:DFLI) Downgraded by Wall Street Zen to Strong Sell

Wall Street Zen cut shares of Dragonfly Energy (NASDAQ:DFLI) from a sell rating to a strong sell rating in a research report released on Saturday.

DFLI has been the subject of a number of other reports. Zacks Research upgraded shares of Dragonfly Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Roth Capital set a $3.00 target price on Dragonfly Energy in a research report on Friday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Dragonfly Energy in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Dragonfly Energy has a consensus rating of “Moderate Buy” and an average price target of $3.12.

Dragonfly Energy Price Performance

Shares of NASDAQ:DFLI opened at $1.32 on Friday. The firm has a market capitalization of $16.91 million, a PE ratio of -0.07 and a beta of 0.25. The company has a quick ratio of 0.95, a current ratio of 2.41 and a debt-to-equity ratio of 2.53. The company has a 50-day moving average price of $1.69 and a two-hundred day moving average price of $2.15. Dragonfly Energy has a twelve month low of $1.10 and a twelve month high of $26.10.

Dragonfly Energy (NASDAQ:DFLI) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.09). The firm had revenue of $13.16 million for the quarter, compared to the consensus estimate of $13.18 million. Equities analysts forecast that Dragonfly Energy will post -1.35 EPS for the current year.

Institutional Trading of Dragonfly Energy

Several institutional investors and hedge funds have recently made changes to their positions in DFLI. Legato Capital Management LLC purchased a new position in Dragonfly Energy in the fourth quarter worth $185,000. Jane Street Group LLC purchased a new stake in Dragonfly Energy during the fourth quarter valued at about $266,000. State Street Corp bought a new stake in Dragonfly Energy during the fourth quarter worth about $39,000. Alyeska Investment Group L.P. bought a new stake in Dragonfly Energy during the fourth quarter worth about $2,285,000. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Dragonfly Energy in the 4th quarter worth about $602,000. Hedge funds and other institutional investors own 8.19% of the company’s stock.

Dragonfly Energy Company Profile

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.