Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Short Interest Update

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 124,100 shares, a drop of 87.7% from the October 31st total of 1,010,000 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average daily volume of 41,600 shares, the days-to-cover ratio is presently 3.0 days.

Dragonfly Energy Price Performance

Shares of DFLI stock traded up $0.03 during trading hours on Friday, hitting $3.49. The company had a trading volume of 17,937 shares, compared to its average volume of 64,407. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.31 and a current ratio of 0.80. The firm has a market capitalization of $24.48 million, a price-to-earnings ratio of -0.85 and a beta of -0.83. Dragonfly Energy has a 12 month low of $2.96 and a 12 month high of $13.14. The firm’s fifty day moving average is $4.68 and its 200 day moving average is $6.22.

Institutional Trading of Dragonfly Energy

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

Wall Street Analysts Forecast Growth

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

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.