Dragonfly Energy (NASDAQ:DFLI) Downgraded to Neutral Rating by Alliance Global Partners

Alliance Global Partners lowered shares of Dragonfly Energy (NASDAQ:DFLI) from a buy rating to a neutral rating in a report issued on Tuesday morning, Marketbeat.com reports. Alliance Global Partners currently has $1.50 target price on the stock, down from their previous target price of $9.00.

Dragonfly Energy Stock Down 10.8 %

NASDAQ:DFLI opened at $1.16 on Tuesday. The stock has a 50-day simple moving average of $1.97 and a 200 day simple moving average of $3.41. Dragonfly Energy has a 52-week low of $1.05 and a 52-week high of $13.14. The company has a market cap of $8.42 million, a PE ratio of -0.29 and a beta of -0.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.31 and a current ratio of 0.80.

Dragonfly Energy (NASDAQ:DFLI) last issued its quarterly earnings results on Monday, March 24th. The company reported ($1.01) earnings per share for the quarter, topping the consensus estimate of ($1.35) by $0.34. Dragonfly Energy had a negative net margin of 56.80% and a negative return on equity of 251.32%. The company had revenue of $12.21 million during the quarter, compared to analysts’ expectations of $13.71 million. On average, sell-side analysts expect that Dragonfly Energy will post -6.48 EPS for the current fiscal 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.