Dragonfly Energy (NASDAQ:DFLI) Shares Down 5.6% – Here’s What Happened

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) traded down 5.6% on Monday . The stock traded as low as $1.15 and last traded at $1.18. 43,720 shares were traded during mid-day trading, a decline of 27% from the average session volume of 60,231 shares. The stock had previously closed at $1.25.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reduced their price target on Dragonfly Energy from $13.50 to $11.25 and set a “buy” rating for the company in a research report on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $15.66.

Dragonfly Energy Stock Performance

The company has a market capitalization of $8.56 million, a PE ratio of -0.29 and a beta of -0.76. The company has a quick ratio of 0.31, a current ratio of 0.80 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $2.40 and a two-hundred day moving average price of $3.71.

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.