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

Shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) have been given a consensus recommendation of “Buy” by the six research firms that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $1.79.

Several brokerages have recently issued reports on DFLI. Roth Mkm upped their target price on shares of Dragonfly Energy from $0.90 to $1.50 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Roth Capital reissued a “buy” rating on shares of Dragonfly Energy in a research note on Tuesday, April 16th. Chardan Capital reaffirmed a “buy” rating and set a $3.00 price objective on shares of Dragonfly Energy in a report on Tuesday, April 16th. Alliance Global Partners began coverage on Dragonfly Energy in a report on Thursday, May 23rd. They set a “buy” rating and a $1.75 price target for the company. Finally, Stifel Nicolaus boosted their price objective on Dragonfly Energy from $1.00 to $1.20 and gave the stock a “buy” rating in a research note on Thursday, May 16th.

Institutional Trading of Dragonfly Energy

An institutional investor recently raised its position in Dragonfly Energy stock. KFG Wealth Management LLC lifted its stake in Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) by 174.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 308,830 shares of the company’s stock after purchasing an additional 196,230 shares during the quarter. KFG Wealth Management LLC owned about 0.51% of Dragonfly Energy worth $167,000 as of its most recent SEC filing. 8.19% of the stock is currently owned by institutional investors and hedge funds.

Dragonfly Energy Price Performance

NASDAQ DFLI opened at $0.85 on Monday. The business’s 50-day moving average is $0.90 and its 200 day moving average is $0.66. Dragonfly Energy has a 1 year low of $0.43 and a 1 year high of $3.25. The stock has a market capitalization of $51.16 million, a PE ratio of -1.57 and a beta of -0.76.

Dragonfly Energy (NASDAQ:DFLI) last announced its earnings results on Tuesday, May 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The firm had revenue of $12.51 million during the quarter, compared to the consensus estimate of $12.11 million. Dragonfly Energy had a negative return on equity of 114.66% and a negative net margin of 50.04%. During the same period in the prior year, the company posted ($0.28) EPS. As a group, equities research analysts anticipate that Dragonfly Energy will post -0.55 earnings per share for the current year.

About Dragonfly Energy

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.