Dragonfly Energy (NASDAQ:DFLI) Trading Down 10% – What’s Next?

Shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) fell 10% during trading on Tuesday . The company traded as low as $2.50 and last traded at $2.78. 247,556 shares changed hands during mid-day trading, an increase of 274% from the average session volume of 66,149 shares. The stock had previously closed at $3.09.

Analyst Upgrades and Downgrades

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

Dragonfly Energy Stock Performance

The stock has a market capitalization of $22.51 million, a P/E ratio of -0.79 and a beta of -0.87. 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 stock has a 50 day simple moving average of $3.84 and a two-hundred day simple moving average of $5.25.

Institutional Trading of Dragonfly Energy

An institutional investor recently bought a new position in Dragonfly Energy stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 56,581 shares of the company’s stock, valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. owned 0.09% of Dragonfly Energy as of its most recent SEC filing. 8.19% of the stock is owned by institutional investors.

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.