Dragonfly Energy (NASDAQ:DFLI) Releases Q1 2024 Earnings Guidance

Dragonfly Energy (NASDAQ:DFLI) issued an update on its first quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of -0.170–0.130 for the period, compared to the consensus earnings per share estimate of -0.200. The company issued revenue guidance of $12.0 million-$13.0 million, compared to the consensus revenue estimate of $12.2 million.

Dragonfly Energy Stock Performance

DFLI stock traded down $0.01 during mid-day trading on Monday, reaching $0.45. The company had a trading volume of 4,641,454 shares, compared to its average volume of 284,396. The firm has a fifty day simple moving average of $0.51 and a 200 day simple moving average of $0.67. Dragonfly Energy has a fifty-two week low of $0.43 and a fifty-two week high of $6.35. The company has a market capitalization of $26.80 million, a price-to-earnings ratio of -0.76 and a beta of -0.52.

Hedge Funds Weigh In On Dragonfly Energy

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of Dragonfly Energy by 32.6% in the first quarter. Geode Capital Management LLC now owns 76,697 shares of the company’s stock valued at $230,000 after purchasing an additional 18,860 shares during the period. Hudson Bay Capital Management LP acquired a new stake in Dragonfly Energy during the second quarter valued at approximately $148,000. Barclays PLC acquired a new stake in Dragonfly Energy during the fourth quarter valued at approximately $145,000. Charles Schwab Investment Management Inc. raised its stake in Dragonfly Energy by 88.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 80,313 shares of the company’s stock valued at $119,000 after buying an additional 37,595 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Dragonfly Energy by 234.9% during the first quarter. State Street Corp now owns 36,500 shares of the company’s stock valued at $110,000 after purchasing an additional 25,600 shares during the last quarter. 8.19% of the stock is owned by institutional investors and hedge funds.

Dragonfly Energy Company Profile

Dragonfly Energy Holdings Corp. manufactures and supplies deep cycle lithium-ion batteries for recreational vehicles, marine vessels, off-grid installations, and other storage applications. The company also provides lithium power systems, including solar panels, chargers and inverters, system monitoring, alternator regulators, and accessories.