Dragonfly Energy Stock Scheduled to Reverse Split on Friday, November 22nd (NASDAQ:DFLI)

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI)’s stock is going to reverse split on the morning of Friday, November 22nd. The 1-9 reverse split was announced on Tuesday, November 19th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, November 21st.

Dragonfly Energy Price Performance

DFLI opened at $0.37 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.31 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $23.36 million, a P/E ratio of -0.82 and a beta of -0.83. The stock has a 50-day moving average price of $0.54 and a 200-day moving average price of $0.73. Dragonfly Energy has a 12-month low of $0.33 and a 12-month high of $1.46.

Analyst Ratings Changes

Separately, Canaccord Genuity Group decreased their price objective on Dragonfly Energy from $1.50 to $1.25 and set a “buy” rating on the stock in a report on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Dragonfly Energy has an average rating of “Buy” and a consensus price target of $1.74.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in Dragonfly Energy during the 2nd quarter valued at $37,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Dragonfly Energy in the second quarter worth approximately $48,000. Finally, KFG Wealth Management LLC raised its stake in Dragonfly Energy by 37.2% during the 2nd quarter. KFG Wealth Management LLC now owns 423,830 shares of the company’s stock valued at $359,000 after buying an additional 115,000 shares during the last quarter. 8.19% of the stock is 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.