Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Short Interest Down 87.7% in November

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) saw a large drop in short interest in the month of 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 company’s shares are short sold. Based on an average daily trading volume, of 41,600 shares, the days-to-cover ratio is currently 3.0 days.

Dragonfly Energy Stock Down 1.1 %

DFLI stock traded down $0.04 during midday trading on Wednesday, reaching $3.46. 50,310 shares of the company’s stock traded hands, compared to its average volume of 64,613. Dragonfly Energy has a 52 week low of $2.96 and a 52 week high of $13.14. The company has a market cap of $24.25 million, a price-to-earnings ratio of -0.79 and a beta of -0.83. The firm’s fifty day moving average price is $4.73 and its 200-day moving average price is $6.26. The company has a quick ratio of 0.31, a current ratio of 0.80 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Dragonfly Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC bought a new stake in Dragonfly Energy during the 2nd quarter worth approximately $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Dragonfly Energy in the 2nd quarter valued at $48,000. Finally, KFG Wealth Management LLC lifted its stake in Dragonfly Energy by 37.2% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 8.19% of the company’s stock.

Analyst Ratings Changes

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