Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Sees Large Decline in Short Interest

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 1,020,000 shares, a decline of 9.7% from the September 30th total of 1,130,000 shares. Approximately 3.5% of the company’s shares are short sold. Based on an average daily volume of 326,800 shares, the days-to-cover ratio is currently 3.1 days.

Dragonfly Energy Trading Down 6.7 %

Shares of DFLI stock traded down $0.04 on Wednesday, hitting $0.54. The company had a trading volume of 186,704 shares, compared to its average volume of 558,058. The firm has a market cap of $32.78 million, a P/E ratio of -0.99 and a beta of -0.83. The stock’s 50-day moving average is $0.56 and its two-hundred day moving average is $0.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.26 and a current ratio of 0.90. Dragonfly Energy has a twelve month low of $0.43 and a twelve month high of $1.46.

Dragonfly Energy (NASDAQ:DFLI) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.06). The company had revenue of $13.21 million during the quarter, compared to analyst estimates of $14.17 million. Dragonfly Energy had a negative net margin of 59.58% and a negative return on equity of 165.91%. On average, equities research analysts anticipate that Dragonfly Energy will post -0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dragonfly Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC acquired a new stake in shares of Dragonfly Energy in the second quarter valued at about $37,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Dragonfly Energy during the 2nd quarter valued at about $48,000. Finally, KFG Wealth Management LLC boosted its position in shares of Dragonfly Energy by 174.3% during the 1st quarter. KFG Wealth Management LLC now owns 308,830 shares of the company’s stock valued at $167,000 after purchasing an additional 196,230 shares in the last quarter. Institutional investors and hedge funds 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.