Dragonfly Energy (NASDAQ:DFLI) Shares Down 3.6%

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) was down 3.6% during trading on Friday . The stock traded as low as $0.51 and last traded at $0.51. Approximately 290,941 shares were traded during trading, a decline of 53% from the average daily volume of 614,933 shares. The stock had previously closed at $0.53.

Dragonfly Energy Price Performance

The firm has a market capitalization of $31.36 million, a PE ratio of -0.95 and a beta of -0.83. The firm’s fifty day moving average price is $0.65 and its 200 day moving average price is $0.74. The company has a current ratio of 0.90, a quick ratio of 0.26 and a debt-to-equity ratio of 0.01.

Dragonfly Energy (NASDAQ:DFLI) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.06). The company had revenue of $13.21 million for the quarter, compared to analyst estimates of $14.17 million. Dragonfly Energy had a negative return on equity of 165.91% and a negative net margin of 59.58%. As a group, equities analysts forecast that Dragonfly Energy Holdings Corp. will post -0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. KFG Wealth Management LLC grew its stake in shares of Dragonfly Energy by 174.3% during the 1st quarter. KFG Wealth Management LLC now owns 308,830 shares of the company’s stock worth $167,000 after purchasing an additional 196,230 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Dragonfly Energy in the second quarter valued at $48,000. Finally, AQR Capital Management LLC acquired a new position in shares of Dragonfly Energy in the second quarter worth about $37,000. 8.19% of the stock is currently owned by hedge funds and other 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.