Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) have been given an average recommendation of “Buy” by the six research firms that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $1.74.

Separately, Canaccord Genuity Group decreased their price objective on Dragonfly Energy from $1.50 to $1.25 and set a “buy” rating for the company in a report on Friday, November 15th.

Dragonfly Energy Trading Down 26.3 %

DFLI opened at $0.37 on Friday. The firm’s fifty day simple moving average is $0.54 and its 200 day simple moving average is $0.73. The stock has a market capitalization of $23.36 million, a P/E ratio of -0.82 and a beta of -0.83. The company has a current ratio of 0.80, a quick ratio of 0.31 and a debt-to-equity ratio of 0.01. Dragonfly Energy has a 12 month low of $0.33 and a 12 month high of $1.46.

Dragonfly Energy shares are going to reverse split on the morning of Friday, November 22nd. The 1-9 reverse split was announced on Tuesday, November 19th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, November 21st.

Hedge Funds Weigh In On Dragonfly Energy

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

Dragonfly Energy Company Profile

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.