Brokerages Set Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Target Price at $1.79

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) has been given a consensus rating of “Buy” by the six research firms that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $1.79.

DFLI has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their target price on shares of Dragonfly Energy from $1.25 to $1.50 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Chardan Capital restated a “buy” rating and issued a $3.00 price target on shares of Dragonfly Energy in a research report on Tuesday, April 16th. Roth Capital restated a “buy” rating on shares of Dragonfly Energy in a research report on Tuesday, April 16th. Roth Mkm raised their price target on shares of Dragonfly Energy from $0.90 to $1.50 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Finally, Stifel Nicolaus raised their price target on shares of Dragonfly Energy from $1.00 to $1.20 and gave the stock a “buy” rating in a research report on Thursday, May 16th.

Dragonfly Energy Trading Down 1.6 %

NASDAQ:DFLI opened at $0.86 on Monday. Dragonfly Energy has a 1 year low of $0.43 and a 1 year high of $3.25. The firm’s fifty day simple moving average is $0.92 and its 200 day simple moving average is $0.66. The firm has a market capitalization of $51.97 million, a PE ratio of -1.59 and a beta of -0.76.

Dragonfly Energy (NASDAQ:DFLI) last posted its earnings results on Tuesday, May 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Dragonfly Energy had a negative net margin of 50.04% and a negative return on equity of 114.66%. The firm had revenue of $12.51 million during the quarter, compared to analyst estimates of $12.11 million. During the same quarter in the previous year, the business posted ($0.28) earnings per share. As a group, analysts anticipate that Dragonfly Energy will post -0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Dragonfly Energy

A hedge fund recently raised its stake in Dragonfly Energy stock. KFG Wealth Management LLC lifted its holdings in shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) by 323.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 112,600 shares of the company’s stock after acquiring an additional 86,000 shares during the period. KFG Wealth Management LLC owned approximately 0.19% of Dragonfly Energy worth $61,000 as of its most recent filing with the SEC. 8.19% of the stock is currently 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.