Dragonfly Energy (NASDAQ:DFLI) Given New $3.25 Price Target at Canaccord Genuity Group
by Kim Johansen · The Markets DailyDragonfly Energy (NASDAQ:DFLI – Get Free Report) had its price objective decreased by Canaccord Genuity Group from $22.50 to $3.25 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 35.70% from the stock’s previous close.
Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Dragonfly Energy in a research report on Monday, December 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.08.
Dragonfly Energy Stock Performance
Shares of NASDAQ DFLI traded down $0.53 during midday trading on Tuesday, hitting $2.40. 756,235 shares of the stock traded hands, compared to its average volume of 549,651. The firm has a 50-day moving average of $3.10 and a two-hundred day moving average of $5.93. The firm has a market capitalization of $28.93 million, a P/E ratio of -0.08 and a beta of -0.11. Dragonfly Energy has a one year low of $1.50 and a one year high of $26.10.
Dragonfly Energy (NASDAQ:DFLI – Get Free Report) last issued its quarterly earnings data on Monday, March 23rd. The company reported ($14.92) EPS for the quarter, missing the consensus estimate of ($0.80) by ($14.12). The company had revenue of $13.06 million during the quarter, compared to the consensus estimate of $12.94 million. Equities analysts forecast that Dragonfly Energy will post -6.48 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Dragonfly Energy
Institutional investors have recently bought and sold shares of the stock. OMERS ADMINISTRATION Corp purchased a new position in Dragonfly Energy during the fourth quarter valued at $47,000. Essex Investment Management Co. LLC purchased a new stake in Dragonfly Energy in the fourth quarter worth about $602,000. Alyeska Investment Group L.P. bought a new position in shares of Dragonfly Energy in the fourth quarter worth about $2,285,000. State Street Corp purchased a new position in shares of Dragonfly Energy during the 4th quarter valued at about $39,000. Finally, Jane Street Group LLC purchased a new position in shares of Dragonfly Energy during the 4th quarter valued at about $266,000. 8.19% of the stock is owned by 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.