Analysts Set Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) PT at $1.74

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) has earned a consensus recommendation of “Buy” from the six ratings firms that are covering the company, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $1.74.

Separately, Canaccord Genuity Group reduced their target price on Dragonfly Energy from $1.50 to $1.25 and set a “buy” rating on the stock in a report on Friday.

Hedge Funds Weigh In On Dragonfly Energy

A number of large investors have recently modified their holdings of DFLI. KFG Wealth Management LLC lifted its holdings 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 worth $359,000 after purchasing an additional 115,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Dragonfly Energy during the 2nd quarter valued at $48,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Dragonfly Energy during the 2nd quarter valued at $37,000. 8.19% of the stock is currently owned by institutional investors.

Dragonfly Energy Stock Performance

Shares of DFLI stock opened at $0.49 on Friday. The business’s 50 day simple moving average is $0.55 and its 200 day simple moving average is $0.73. Dragonfly Energy has a one year low of $0.43 and a one year high of $1.46. The stock has a market capitalization of $30.78 million, a PE ratio of -1.09 and a beta of -0.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.90 and a quick ratio of 0.26.

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.