Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Sees Significant Increase in Short Interest

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 170,100 shares, a growth of 19.7% from the December 15th total of 142,100 shares. Currently, 4.4% of the company’s stock are sold short. Based on an average daily trading volume, of 69,100 shares, the days-to-cover ratio is presently 2.5 days.

Dragonfly Energy Stock Performance

NASDAQ:DFLI traded down $0.13 during trading hours on Friday, reaching $2.60. 85,511 shares of the stock were exchanged, compared to its average volume of 80,031. The stock has a market capitalization of $18.24 million, a P/E ratio of -0.64 and a beta of -0.78. The firm has a 50 day simple moving average of $3.43 and a 200-day simple moving average of $4.87. The company has a quick ratio of 0.31, a current ratio of 0.80 and a debt-to-equity ratio of 0.01. Dragonfly Energy has a 52 week low of $2.50 and a 52 week high of $13.14.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group cut their price target on shares of Dragonfly Energy from $13.50 to $11.25 and set a “buy” rating on the stock in a report on Friday, November 15th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $15.66.

Institutional Investors Weigh In On Dragonfly Energy

An institutional investor recently bought a new position in Dragonfly Energy stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 56,581 shares of the company’s stock, valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. owned 0.09% of Dragonfly Energy as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 8.19% of the company’s stock.

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.