Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Sees Large Decline in Short Interest

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 129,629 shares, a decline of 90.3% from the September 30th total of 1,334,482 shares. Based on an average trading volume of 78,751 shares, the short-interest ratio is presently 1.6 days. Approximately 7.1% of the company’s shares are short sold.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on DFLI shares. Roth Capital set a $24.00 price objective on shares of Dragonfly Energy in a research report on Friday, August 7th. Zacks Research upgraded shares of Dragonfly Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Wall Street Zen raised shares of Dragonfly Energy from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 16th. Finally, Weiss Ratings downgraded Dragonfly Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Dragonfly Energy currently has an average rating of “Hold” and a consensus target price of $25.00.

Dragonfly Energy Stock Down 4.6%

NASDAQ DFLI traded down $0.11 during trading hours on Monday, reaching $2.29. 42,119 shares of the company traded hands, compared to its average volume of 55,215. The stock has a market capitalization of $4.28 million, a PE ratio of -0.02 and a beta of 0.30. The company has a 50 day moving average of $6.58 and a two-hundred day moving average of $14.91. The company has a current ratio of 2.34, a quick ratio of 0.97 and a debt-to-equity ratio of 2.53. Dragonfly Energy has a 12 month low of $2.28 and a 12 month high of $108.80.

Dragonfly Energy (NASDAQ:DFLI) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($3.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.72) by ($0.72). The company had revenue of $13.16 million during the quarter, compared to analyst estimates of $13.18 million. As a group, equities analysts expect that Dragonfly Energy will post -13.36 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Dragonfly Energy stock. Cygnus Capital Advisors LLC grew its holdings in shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) by 130.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,593 shares of the company’s stock after purchasing an additional 35,442 shares during the period. Cygnus Capital Advisors LLC owned approximately 0.42% of Dragonfly Energy worth $123,000 as of its most recent filing with the Securities and Exchange Commission. 8.19% of the stock is owned by hedge funds and other institutional investors.

Dragonfly Energy Company Profile

Dragonfly Energy Holdings Corp. develops and manufactures lithium-ion battery systems and energy-storage technologies. The company’s products are designed to replace traditional lead-acid batteries in applications that require reliable, rechargeable power and include battery packs, energy-storage systems, and related components.

Dragonfly Energy markets its batteries under the Battle Born Batteries brand, serving recreational vehicle, marine, off-grid, industrial, and other mobile or stationary-power applications.