Dragonfly Energy (NASDAQ:DFLI) Trading Down 3.6%

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) shares dropped 3.6% during trading on Friday . The stock traded as low as $0.51 and last traded at $0.51. Approximately 290,941 shares changed hands during mid-day 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 company has a quick ratio of 0.26, a current ratio of 0.90 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $31.36 million, a PE ratio of -0.95 and a beta of -0.83. The stock has a 50-day moving average price of $0.65 and a 200 day moving average price of $0.74.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. KFG Wealth Management LLC raised its holdings in shares of Dragonfly Energy by 37.2% during the second 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. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Dragonfly Energy in the second quarter worth approximately $48,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Dragonfly Energy during the second quarter worth approximately $37,000. 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.