Dragonfly Energy (NASDAQ:DFLI) Stock Price Down 5.6% – Here’s Why

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI)’s stock price was down 5.6% on Monday . The stock traded as low as $1.15 and last traded at $1.18. Approximately 43,720 shares changed hands during trading, a decline of 27% from the average daily volume of 60,231 shares. The stock had previously closed at $1.25.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group decreased 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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Dragonfly Energy currently has a consensus rating of “Buy” and a consensus price target of $15.66.

Dragonfly Energy Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.31 and a current ratio of 0.80. The firm has a market cap of $8.13 million, a P/E ratio of -0.28 and a beta of -0.75. The company has a 50-day moving average of $2.34 and a 200 day moving average of $3.66.

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.