Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Receives $1.79 Consensus Price Target from Brokerages

Shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) have been given a consensus rating of “Buy” by the six analysts that are covering the company, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $1.79.

DFLI has been the topic of several analyst reports. Chardan Capital reiterated a “buy” rating and set a $3.00 target price on shares of Dragonfly Energy in a report on Tuesday, April 16th. Stifel Nicolaus raised their target price on Dragonfly Energy from $1.00 to $1.20 and gave the company a “buy” rating in a report on Thursday, May 16th. Roth Capital reiterated a “buy” rating on shares of Dragonfly Energy in a report on Tuesday, April 16th. Alliance Global Partners initiated coverage on Dragonfly Energy in a report on Thursday, May 23rd. They set a “buy” rating and a $1.75 target price on the stock. Finally, Canaccord Genuity Group raised their target price on Dragonfly Energy from $1.25 to $1.50 and gave the company a “buy” rating in a report on Wednesday, May 15th.

Institutional Investors Weigh In On Dragonfly Energy

An institutional investor recently raised its position in Dragonfly Energy stock. KFG Wealth Management LLC boosted its holdings in shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) by 323.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,600 shares of the company’s stock after purchasing an additional 86,000 shares during the quarter. KFG Wealth Management LLC owned approximately 0.19% of Dragonfly Energy worth $61,000 at the end of the most recent quarter. Institutional investors and hedge funds own 8.19% of the company’s stock.

Dragonfly Energy Price Performance

NASDAQ DFLI opened at $0.90 on Friday. The firm has a market capitalization of $55.06 million, a P/E ratio of -1.67 and a beta of -0.78. Dragonfly Energy has a 1-year low of $0.43 and a 1-year high of $3.25. The business’s 50-day simple moving average is $0.95 and its 200-day simple moving average is $0.69.

Dragonfly Energy (NASDAQ:DFLI) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The firm had revenue of $12.51 million during the quarter, compared to analyst estimates of $12.11 million. Dragonfly Energy had a negative net margin of 50.04% and a negative return on equity of 114.66%. During the same period in the prior year, the firm earned ($0.28) earnings per share. On average, equities research analysts expect that Dragonfly Energy will post -0.59 EPS for the current fiscal year.

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.