Dragonfly Energy (NASDAQ:DFLI) Trading Down 10% – Should You Sell?

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

Wall Street Analyst Weigh In

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

Dragonfly Energy Stock Down 10.0 %

The company has a market cap of $19.50 million, a P/E ratio of -0.69 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 firm has a fifty day moving average price of $3.89 and a 200 day moving average price of $5.27.

Institutional Investors Weigh In On Dragonfly Energy

A hedge fund recently bought a new stake in Dragonfly Energy stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) during the second quarter, according to its most recent filing with the SEC. The firm acquired 56,581 shares of the company’s stock, valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. owned about 0.09% of Dragonfly Energy as of its most recent filing with the SEC. 8.19% of the stock is owned by institutional investors and hedge funds.

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.