Short Interest in Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Declines By 87.7%

by · The Markets Daily

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI – Get Free Report) saw a large decrease in short interest in November. As of November 15th, there was short interest totalling 124,100 shares, a decrease of 87.7% from the October 31st total of 1,010,000 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily volume of 41,600 shares, the short-interest ratio is presently 3.0 days.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group dropped their price target on shares of Dragonfly Energy from $13.50 to $11.25 and set a “buy” rating on the stock in a research report on Friday, November 15th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Dragonfly Energy presently has an average rating of “Buy” and an average price target of $15.66.

View Our Latest Analysis on Dragonfly Energy

Dragonfly Energy Price Performance

NASDAQ:DFLI traded down $0.04 during trading hours on Wednesday, reaching $3.46. 50,310 shares of the company were exchanged, compared to its average volume of 64,613. The business has a 50 day moving average of $4.73 and a 200 day moving average of $6.26. The company has a market capitalization of $24.25 million, a P/E ratio of -0.79 and a beta of -0.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.80 and a quick ratio of 0.31. Dragonfly Energy has a 1-year low of $2.96 and a 1-year high of $13.14.

Institutional Trading of Dragonfly Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. KFG Wealth Management LLC boosted its stake in shares of Dragonfly Energy by 37.2% in the 2nd quarter. KFG Wealth Management LLC now owns 423,830 shares of the company’s stock valued at $359,000 after purchasing an additional 115,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Dragonfly Energy during the second quarter valued at $48,000. Finally, AQR Capital Management LLC bought a new stake in Dragonfly Energy during the second quarter valued at $37,000. 8.19% of the stock is currently owned by institutional investors and hedge funds.

Dragonfly Energy Company Profile

(Get Free Report)

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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