Canaccord Genuity Group Cuts Dragonfly Energy (NASDAQ:DFLI) Price Target to $1.25

Dragonfly Energy (NASDAQ:DFLI) had its price target decreased by Canaccord Genuity Group from $1.50 to $1.25 in a research report released on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Dragonfly Energy Price Performance

NASDAQ:DFLI opened at $0.49 on Friday. The company has a 50-day moving average of $0.55 and a 200-day moving average of $0.73. The company has a market capitalization of $30.78 million, a price-to-earnings ratio of -1.09 and a beta of -0.83. Dragonfly Energy has a 52 week low of $0.43 and a 52 week high of $1.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.26 and a current ratio of 0.90.

Hedge Funds Weigh In On Dragonfly Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Dragonfly Energy during the 2nd quarter worth about $48,000. AQR Capital Management LLC bought a new position in Dragonfly Energy during the 2nd quarter valued at about $37,000. Finally, KFG Wealth Management LLC lifted its holdings 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 purchasing an additional 115,000 shares during the last quarter. 8.19% of the stock is 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.