Dragonfly Energy (DFLI) is a battery manufacturer that specializes in lithium-ion batteries for the RV, marine, and off-grid power markets. The company has a number of factors that make it a potential investment, including:
Article Coverage: About the Company, Latest DLFI News, Analyst Forecasts, Aggregated Forecasts, DLFI Latest Production Update, Reasons to Buy or Sell DLFI Stock, FAQs and Other detailed analysis.
Dragonfly Energy Holdings Corp. is a company that is focused on the development and commercialization of next-generation battery technologies. DLFI stock was registered on the Nasdaq stock market on October 20, 2022, under the ticker symbol “DFLI.”
| DFLI Stock Price Target for the Next 12 Months | $6 |
| Roth MKM | $4 |
| Canaccord Genuity | $4 |
| Chardan Capital | $10 |
Last Quarter (Q2 of 2023) Highlights
Dragon Energy released its financial and operational results for the second quarter ending on June 30, 2023. During this period, Dragon Energy achieved net sales of $19.3 million, which aligns with the company’s revenue guidance range of $18.0 to $22.0 million. Notably, this marks a decrease in revenue by $2.3 million when compared to the second quarter of 2022, primarily due to growth in OEM customers being offset by declines in the direct-to-consumer (DTC) sector.
The gross profit for the quarter amounted to $4.1 million, a decrease from the $7.0 million recorded in the second quarter of 2022. Operating expenses for the second quarter of 2023 were $(12.5) million, higher in comparison to $(7.6) million in the same quarter of 2022.
In terms of net earnings, Dragon Energy reported a net loss of $(11.7) million, or $(0.25) per diluted share in the second quarter of 2023. This contrasts with a net loss of $(1.5) million, or $(0.04) per diluted share in the second quarter of 2022. Furthermore, EBITDA for the second quarter of 2023 stood at $(7.3) million, compared to EBITDA of $(0.3) million in the second quarter of 2022.
As of the end of the second quarter of 2023, Dragon Energy held $33.0 million in cash reserves.
Summary of Q2 Earnings
Last 4 Quarters Financial Details
| (USD) | Jun 2023 | Mar 2023 | Dec 2022 | Sep 2022 |
| Revenue | 19.27M | 18.79M | 20.21M | 26.12M |
| Net income | -11.7M | 4.89M | -32.12M | -3.69M |
| Diluted EPS | -0.25 | 0.1 | -0.75 | -0.17 |
| Net profit margin | -60.70% | 26.03% | -158.91% | -14.12% |
| Operating income | -8.39M | -9.82M | -30.45M | -1.48M |
| Net change in cash | 17.16M | -1.99M | 4.22M | 9.46M |
| Cost of revenue | 15.18M | 14.05M | 15.77M | 19.08M |
UTC: Feb 23rd, 2024 12:17 AM
| Overall Outlook | Partially Bullish |
| 1. Market’s Wisdom | Bullish |
| 1a. Market Data | Bullish |
| 1b. Technical Recommendation | Neutral |
| 2. Crowd’s Wisdom | Neutral |
| 2a. Social Media Buzz | Steady |
| 2b. Social Media Sentiment | N/A |
The global market for lithium-ion batteries is expected to grow significantly in the coming years, driven by the rise of electric vehicles (EVs) and other applications. Dragonfly Energy is well-positioned to capitalize on this growth, as it is a leading supplier of lithium-ion batteries for the RV and marine markets.
Dragonfly Energy’s batteries use a unique technology. The batteries use a solid-state electrolyte, which offers a number of advantages over traditional liquid electrolytes, including improved safety, longer life, and faster charging. This technology could give Dragonfly Energy a competitive edge in the market.
Dragonfly Energy has a number of strategic partnerships with leading companies in the RV, marine, and off-grid power markets. These partnerships give the company access to key customers and channels, which could help it to grow its business.
Dragonfly Energy has been profitable for the past two years, and its revenue has been growing steadily. This suggests that the company is well-positioned to continue to grow in the future.
Considering all these factors Dragonfly Energy was a good investment option
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Dragonfly Energy was only founded in 2015. It is a relatively new company that hasn’t made much money yet. They are still working on creating their technology and building their manufacturing capabilities. Investing in the company could be risky because there’s no assurance that it will be successful in the future.
The lithium-ion battery market is becoming increasingly competitive, as more and more companies enter the space. This could put pressure on Dragonfly Energy’s margins.
Dragonfly Energy’s business outlook is highly dependent on the growth of solid-state batteries in the market. While predictions suggest a substantial increase in demand for these batteries in the future, the actual market size remains uncertain. If the anticipated expansion fails to materialize, Dragonfly Energy could face adverse effects on its operations and overall performance.
Added to it, Dragonfly Energy has a high debt load. This could make it more difficult for the company to raise additional capital if needed.
The global market for lithium-ion batteries is expected to grow significantly in the coming years, driven by the rise of electric vehicles (EVs) and other applications. Dragonfly Energy is well-positioned to capitalize on this growth, as it is a leading supplier of lithium-ion batteries for the RV and marine markets.
Dragonfly Energy has a number of strategic partnerships with leading companies in the RV, marine, and off-grid power markets. These partnerships could help the company to grow its business and reach new customers.
If these factors play out favorably, DFLI’s stock price could reach $5 or even $10 per share in 2024. However, it is important to remember that there are also risks associated with investing in DFLI stock. The company is still in its early stages, and there is no guarantee that its technology will be successful. Additionally, the lithium-ion battery market is a competitive one, and Dragonfly Energy could face challenges from larger companies.
It is possible that DFLI could break above $100 in 2024. The company is well-positioned to capitalize on the growth of the lithium-ion battery market, and its solid-state battery technology could give it a competitive edge. However, there are also risks associated with investing in DFLI stock. The company is still in its early stages, and there is no guarantee that its technology will be successful. Additionally, the lithium-ion battery market is a competitive one, and Dragonfly Energy could face challenges from larger companies.
Overall, it is too early to say for certain whether DFLI’s stock price will break above $10 in 2024. However, if the company can execute on its plans and the lithium-ion battery market continues to grow, there is potential for significant upside.
Whether or not you should buy DFLI stock now is a decision that only you can make. There are a number of factors to consider, including your investment objectives, risk tolerance, and time horizon.
Here are some of the factors to consider before investing in DFLI stock:
It is too early to say for certain whether DFLI stock will go up. However, if the company can execute on its plans and the lithium-ion battery market continues to grow, there is potential for significant upside.
If the lithium-ion battery market grows at a CAGR of 20%, DFLI stock could reach $15 per share in 2033.
There is no one-size-fits-all answer to this question, as the best time to invest in DFLI stock will vary depending on your individual circumstances and investment goals.
How high DFLI stock will go is uncertain. There are a number of factors that could contribute to its growth, but there are also risks associated with investing in the company.
Some analysts have set price targets for DFLI stock in the future. For example, B. Riley Securities has a price target of $5, H.C. Wainwright has a price target of $10, and Northland Securities has a price target of $8.
Note: collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions
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