Dragonfly Energy (NASDAQ:DFLI) Downgraded to “Neutral” Rating by Alliance Global Partners

Alliance Global Partners downgraded shares of Dragonfly Energy (NASDAQ:DFLI) from a buy rating to a neutral rating in a report issued on Tuesday, Marketbeat.com reports. Alliance Global Partners currently has $1.50 price objective on the stock, down from their previous price objective of $9.00.

Dragonfly Energy Price Performance

Shares of NASDAQ:DFLI opened at $1.07 on Tuesday. 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’s fifty day simple moving average is $1.89 and its two-hundred day simple moving average is $3.37. Dragonfly Energy has a 1-year low of $1.05 and a 1-year high of $13.14. The stock has a market cap of $7.76 million, a PE ratio of -0.26 and a beta of -0.76.

Dragonfly Energy (NASDAQ:DFLI) last issued its quarterly earnings results on Monday, March 24th. The company reported ($1.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.35) by $0.34. Dragonfly Energy had a negative net margin of 56.80% and a negative return on equity of 251.32%. The company had revenue of $12.21 million for the quarter, compared to the consensus estimate of $13.71 million. As a group, analysts forecast that Dragonfly Energy will post -6.48 EPS for the current fiscal year.

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.