Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Short Interest Update

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) was the target of a significant drop in short interest in 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. Based on an average trading volume of 41,600 shares, the short-interest ratio is presently 3.0 days. Currently, 1.8% of the company’s stock are short sold.

Dragonfly Energy Stock Performance

NASDAQ:DFLI traded up $0.03 during midday trading on Friday, reaching $3.49. The stock had a trading volume of 17,937 shares, compared to its average volume of 64,407. The stock has a market capitalization of $24.48 million, a P/E ratio of -0.85 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. The firm’s fifty day simple moving average is $4.68 and its 200-day simple moving average is $6.22.

Hedge Funds Weigh In On Dragonfly Energy

A number of institutional investors have recently made changes to their positions in DFLI. AQR Capital Management LLC bought a new position in Dragonfly Energy in the 2nd quarter worth approximately $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Dragonfly Energy during the 2nd quarter valued at $48,000. Finally, KFG Wealth Management LLC boosted its holdings in 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 period. 8.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group dropped their price objective on Dragonfly Energy from $13.50 to $11.25 and set a “buy” rating on the stock in a report on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Dragonfly Energy presently 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.