Dragonfly Energy (NASDAQ:DFLI) Stock Price Down 10% – Time to Sell?

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) fell 10% during trading on Tuesday . The company traded as low as $2.50 and last traded at $2.78. 247,556 shares traded hands during trading, an increase of 274% from the average session volume of 66,149 shares. The stock had previously closed at $3.09.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reduced 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Dragonfly Energy presently has a consensus rating of “Buy” and a consensus price target of $15.66.

Dragonfly Energy Trading Up 15.5 %

The company has a market capitalization of $22.51 million, a price-to-earnings ratio of -0.79 and a beta of -0.87. The company has a quick ratio of 0.31, a current ratio of 0.80 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $3.84 and its two-hundred day simple moving average is $5.25.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Dragonfly Energy stock. AQR Capital Management LLC acquired a new position in shares of Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 43,513 shares of the company’s stock, valued at approximately $37,000. AQR Capital Management LLC owned approximately 0.07% of Dragonfly Energy as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 8.19% of the company’s stock.

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.