Dragonfly Energy Stock Set to Reverse Split on Friday, November 22nd (NASDAQ:DFLI)

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) shares are set 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.

Dragonfly Energy Price Performance

DFLI stock opened at $0.37 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.31 and a current ratio of 0.80. The business has a 50-day simple moving average of $0.54 and a two-hundred day simple moving average of $0.73. The company has a market capitalization of $23.36 million, a P/E ratio of -0.82 and a beta of -0.83. Dragonfly Energy has a 52-week low of $0.33 and a 52-week high of $1.46.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lowered their target price on shares of Dragonfly Energy from $1.50 to $1.25 and set a “buy” rating for the company in a report on Friday, November 15th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Dragonfly Energy presently has a consensus rating of “Buy” and an average target price of $1.74.

Institutional Investors Weigh In On Dragonfly Energy

Several institutional investors have recently made changes to their positions in the stock. KFG Wealth Management LLC boosted its position in shares of Dragonfly Energy by 37.2% in the second quarter. KFG Wealth Management LLC now owns 423,830 shares of the company’s stock valued at $359,000 after acquiring an additional 115,000 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Dragonfly Energy in the second quarter worth $48,000. Finally, AQR Capital Management LLC bought a new stake in Dragonfly Energy during the second quarter valued at $37,000. Hedge funds and other institutional investors own 8.19% of the company’s stock.

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.