Short Interest in Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Increases By 5.3%

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 3,400,000 shares, an increase of 5.3% from the March 31st total of 3,230,000 shares. Based on an average daily volume of 745,800 shares, the days-to-cover ratio is presently 4.6 days. Approximately 15.5% of the shares of the stock are sold short.

Dragonfly Energy Price Performance

Dragonfly Energy stock opened at $0.89 on Thursday. Dragonfly Energy has a 1-year low of $0.43 and a 1-year high of $5.33. The firm has a market capitalization of $53.81 million, a P/E ratio of -3.31 and a beta of -0.53. The company’s 50-day moving average is $0.58 and its 200 day moving average is $0.61.

Dragonfly Energy (NASDAQ:DFLI) last posted its quarterly earnings data on Monday, April 15th. The company reported $0.05 earnings per share for the quarter. The company had revenue of $10.44 million for the quarter. Dragonfly Energy had a negative net margin of 21.46% and a negative return on equity of 110.79%. Research analysts anticipate that Dragonfly Energy will post -0.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Roth Capital reiterated a “buy” rating on shares of Dragonfly Energy in a research note on Tuesday, April 16th. Chardan Capital restated a “buy” rating and set a $3.00 target price on shares of Dragonfly Energy in a research report on Tuesday, April 16th. Finally, Roth Mkm restated a “buy” rating and set a $0.90 target price on shares of Dragonfly Energy in a research report on Tuesday, April 16th.

Hedge Funds Weigh In On Dragonfly Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. KFG Wealth Management LLC grew its stake in Dragonfly Energy by 174.3% in the 1st quarter. KFG Wealth Management LLC now owns 308,830 shares of the company’s stock worth $167,000 after acquiring an additional 196,230 shares in the last quarter. Koshinski Asset Management Inc. grew its stake in Dragonfly Energy by 100.0% in the 4th quarter. Koshinski Asset Management Inc. now owns 240,000 shares of the company’s stock worth $130,000 after acquiring an additional 120,000 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Dragonfly Energy in the 3rd quarter worth about $34,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Dragonfly Energy during the third quarter valued at approximately $32,000. 8.19% of the stock is currently owned by institutional investors.

Dragonfly Energy Company Profile

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.