Canaccord Genuity Group Cuts Dragonfly Energy (NASDAQ:DFLI) Price Target to $1.25

Dragonfly Energy (NASDAQ:DFLI) had its target price decreased by Canaccord Genuity Group from $1.50 to $1.25 in a research report report published on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Dragonfly Energy Price Performance

Shares of DFLI stock opened at $0.50 on Friday. The business has a fifty day simple moving average of $0.55 and a 200 day simple moving average of $0.73. The company has a market cap of $31.51 million, a P/E ratio of -1.13 and a beta of -0.83. The company has a quick ratio of 0.26, a current ratio of 0.90 and a debt-to-equity ratio of 0.01. Dragonfly Energy has a twelve month low of $0.43 and a twelve month high of $1.46.

Institutional Investors Weigh In On Dragonfly Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC bought a new position in Dragonfly Energy in the 2nd quarter valued at approximately $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Dragonfly Energy during the second quarter worth $48,000. Finally, KFG Wealth Management LLC lifted its stake in shares of Dragonfly Energy by 37.2% in the 2nd quarter. KFG Wealth Management LLC now owns 423,830 shares of the company’s stock valued at $359,000 after acquiring an additional 115,000 shares during the last quarter. 8.19% of the stock is owned by institutional investors.

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.