Short Interest in Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Declines By 87.7%

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

Analysts Set New Price Targets

Separately, Canaccord Genuity Group dropped their price target 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, Based on data from MarketBeat.com, Dragonfly Energy presently has an average rating of “Buy” and an average price target of $15.66.

Dragonfly Energy Price Performance

NASDAQ:DFLI traded down $0.04 during trading hours on Wednesday, reaching $3.46. 50,310 shares of the company were exchanged, compared to its average volume of 64,613. The business has a 50 day moving average of $4.73 and a 200 day moving average of $6.26. The company has a market capitalization of $24.25 million, a P/E ratio of -0.79 and a beta of -0.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.80 and a quick ratio of 0.31. Dragonfly Energy has a 1-year low of $2.96 and a 1-year high of $13.14.

Institutional Trading of Dragonfly Energy

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

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.