Dragonfly Energy Holdings Corp (DFLI)

Dragonfly Energy Holdings Corp Stock (DFLI) dropped by 22.1% from $0.6983 to $0.5441 in the trading on Tuesday November 14, 2023. The reasons why DFLI stock down today include:

• Decrease in revenue: Dragonfly Energy's revenue has been hit by the ongoing downturn in the RV industry. The company's largest OEM customer has discontinued using its storage solutions as standard equipment, and overall RV unit shipments are significantly lower than previous expectations. This has resulted in a year-over-year decline in Dragonfly Energy's third-quarter revenue.
• Q4 2023 Outlook: Dragonfly Energy's Q4 2023 outlook projects revenue between $10.0 - $14.0 million, impacted by soft demand in the RV market. Gross margin is expected in the range of 21.0% - 26.0%, operating expenses are expected to be between $(9.0) - $(12.0) million, and net losses are expected to range from $(9.0) - $(14.5) million.
• Downgrade: Roth MKM downgraded their outlook for Dragonfly Energy Holdings from Buy to Neutral, announced $0.7 price target

Dragonfly Energy Holdings Corp Stock (DFLI) dropped by 15.8% from $1.93 to $1.62 in the trading on Tuesday August 22, 2023. The reasons why DFLI stock down today include

• Q2 Earnings Miss: Diluted EPS came in at -25 cents, missing expectations of -19 cents, while revenue was $19.3 million, falling short of analysts' estimates of $20.1 million. The disappointing figures caused DFLI stock down sharply today.
• Declined Revenue: Revenue declined by $2.3 million from the prior year of $21.6 million, representing a year-over-year decline of 10.6% as growth from its OEM customers was offset by declines in direct-to-consumer (DTC) business.
• Weak Q3 Outlook: The company expects earnings per share to range from -21 cents to -27 cents alongside revenue of between $16 million and $20 million. For comparison, Wall Street is looking for EPS of -7 cents and revenue of $36.35 million for Q3.

Dragonfly Energy Holdings Corp Stock (DFLI) dropped by 46.2% from $2.79 to $1.50 in the trading on Tuesday June 20, 2023. The reason why DFLI stock down today is due to the announcement of public offering and pricing details. Dragonfly Energy Holdings Corp. has announced a public offering of 10 million shares and investor warrants, expected to generate around $20 million. The combined offering price for one share and one investor warrant is set at $2.00. These investor warrants have an exercise price of $2.00 per share and can be exercised immediately, with an expiration date of five years from the date of issuance. The proceeds will be used for working capital and general corporate purposes. The offering is expected to close around June 22, 2023.

Dragonfly Energy Holdings Corp Stock (DFLI) dropped by 26.99% from $14.86 to $10.85 in the trading on Friday December 23, 2022. The reason why DFLI stock down today is due to news that insiders filed to sell a boatload of shares. An SEC filing revealing that certain security holders intend to sell shares and stock warrants they held. The move came as legacy investors in Chardan NexTech, the SPAC that merged with Dragonfly in October, seek to cash in on their investment. The significant number of shares related to the business combination exceeds the number owned by the public that currently trade on the open market, potentially leading to continued pressure on the stock price until the sales are complete.