Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) Short Interest Up 19.7% in December

Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) saw a large growth in short interest during the month of 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 shares of the company are sold short. Based on an average daily trading volume, of 69,100 shares, the days-to-cover ratio is currently 2.5 days.

Dragonfly Energy Stock Performance

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

Wall Street Analysts Forecast Growth

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 research note on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $15.66.

Institutional Investors Weigh In On Dragonfly Energy

A hedge fund recently bought a new stake in Dragonfly Energy stock. Point72 Asia Singapore Pte. Ltd. bought a new position in Dragonfly Energy Holdings Corp. (NASDAQ:DFLI) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 56,581 shares of the company’s stock, valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. owned approximately 0.09% of Dragonfly Energy at the end of the most recent reporting period. 8.19% of the stock is currently owned by institutional investors and hedge funds.

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.