Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Sees Significant Increase in Short Interest

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI - Get Free Report) saw a significant growth in short interest in April. As of April 30th, there was short interest totalling 3,640,000 shares, a growth of 7.1% from the April 15th total of 3,400,000 shares. Currently, 16.6% of the company's stock are sold short. Based on an average trading volume of 882,000 shares, the short-interest ratio is presently 4.1 days.

Wall Street Analyst Weigh In

DFLI has been the subject of several research reports. Canaccord Genuity Group boosted their price objective on shares of Dragonfly Energy from $1.25 to $1.50 and gave the company a "buy" rating in a report on Wednesday. Roth Capital restated a "buy" rating on shares of Dragonfly Energy in a research note on Tuesday, April 16th. Roth Mkm upped their price objective on Dragonfly Energy from $0.90 to $1.50 and gave the company a "buy" rating in a research report on Wednesday. Stifel Nicolaus increased their target price on Dragonfly Energy from $1.00 to $1.20 and gave the company a "buy" rating in a report on Thursday. Finally, Chardan Capital reaffirmed a "buy" rating and set a $3.00 price target on shares of Dragonfly Energy in a research report on Tuesday, April 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $1.80.

Dragonfly Energy Price Performance

Shares of NASDAQ:DFLI traded up $0.09 during mid-day trading on Thursday, reaching $1.01. 772,011 shares of the company traded hands, compared to its average volume of 751,157. Dragonfly Energy has a 52 week low of $0.43 and a 52 week high of $4.45. The firm has a market cap of $60.86 million, a PE ratio of -3.76 and a beta of -0.84. The company's 50 day moving average price is $0.70 and its 200-day moving average price is $0.61.

Dragonfly Energy (NASDAQ:DFLI - Get Free Report) last issued its earnings results on Tuesday, May 14th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The firm had revenue of $12.51 million during the quarter, compared to the consensus estimate of $12.11 million. Dragonfly Energy had a negative return on equity of 110.79% and a negative net margin of 21.46%. During the same period in the prior year, the company posted ($0.28) EPS. On average, research analysts predict that Dragonfly Energy will post -0.51 earnings per share for the current fiscal year.

Institutional Trading of Dragonfly Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Dragonfly Energy in the third quarter worth about $34,000. KFG Wealth Management LLC grew its holdings in shares of Dragonfly Energy by 323.3% in the fourth quarter. KFG Wealth Management LLC now owns 112,600 shares of the company's stock valued at $61,000 after purchasing an additional 86,000 shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its position in Dragonfly Energy by 100.0% in the fourth quarter. Koshinski Asset Management Inc. now owns 240,000 shares of the company's stock worth $130,000 after purchasing an additional 120,000 shares during the last quarter. 8.19% of the stock is currently owned by 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.