BlackRock Fund Advisors recently announced the acquisition of new stake in Dragonfly Energy Holdings Corp (NASDAQ:DFLI). The institutional investor has increased its shareholding in the Industrials company by 52.66% to 1.25 million shares with purchase of 0.43 million shares. This fresh investment now brings its stake to 2.10% valued currently at $0.71 million. In addition, The Vanguard Group, Inc. raised its holdings by 63735.0 to 0.84 million shares. And Geode Capital Management LLC has lifted its position by 51.37% or 0.13 million shares – to 0.39 million shares.
With over 0.49 million Dragonfly Energy Holdings Corp (DFLI) shares trading Friday and a closing price of $0.57 on the day, the dollar volume was approximately $0.28 million. The shares have shown a negative half year performance of -62.95% and its price on 12/22/23 lost nearly -1.52%. Currently, there are 43.27M common shares owned by the public and among those 23.60M shares have been available to trade.
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The top 3 mutual fund holders in Dragonfly Energy Holdings Corp are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Fidelity Small Cap Index Fund. Vanguard Total Stock Market ETF owns 0.61 million shares of the company’s stock, all valued at over $0.35 million. iShares Russell 2000 ETF bought 291.0 shares to see its total holdings expand to 0.59 million shares valued at over $0.34 million and representing 0.99% of the shares outstanding. Fidelity Small Cap Index Fund bought 0.13 million shares to bring its total holdings to over 0.27 million shares at a value of $0.15 million. Fidelity Small Cap Index Fund now owns shares totaling to 0.45% of the shares outstanding.
However, the script later moved the day high at 0.5980, down -1.52%. The company’s stock has a 5-day price change of 9.71% and -66.44% over the past three months. DFLI shares are trading -95.21% year to date (YTD), with the 12-month market performance down to -97.73% lower. It has a 12-month low price of $0.50 and touched a high of $25.41 over the same period. DFLI has an average intraday trading volume of 550.10K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.23%, -26.12%, and -74.25% respectively.
Institutional ownership of Dragonfly Energy Holdings Corp (NASDAQ: DFLI) shares accounts for 7.20% of the company’s 43.27M shares outstanding. Mutual fund holders own 4.50%, while other institutional holders and individual stakeholders account for 47.61% and 2.62% respectively.
It has a market capitalization of $33.59M and a beta (3y monthly) value of -0.71. The earnings-per-share (ttm) stands at -$0.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.37% over the week and 10.66% over the month.
Analysts forecast that Dragonfly Energy Holdings Corp (DFLI) will achieve an EPS of -$0.2 for the current quarter, -$0.14 for the next quarter and -$0.54 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.2 while analysts give the company a high EPS estimate of -$0.2. Comparatively, EPS for the current quarter was -$0.47 a year ago. Earnings per share for the fiscal year are expected to decrease by -9.50%, and 0.91% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Dragonfly Energy Holdings Corp (DFLI) as a “Strong Buy” at a consensus score of 1.50. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 1 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DFLI, a number of firms have released research notes about the stock. ROTH MKM stated their Buy rating for the stock in a research note on September 14, 2023, with the firm’s price target at $4.
