Dragonfly Energy Holdings shares are trading lower after the company reported a year-over-year decrease in Q3 financial results and issued Q4 revenue guidance below estimates. Also, Roth MKM downgraded the stock from Buy to Neutral.
Portfolio Pulse from Benzinga Newsdesk
Dragonfly Energy Holdings reported a year-over-year decrease in Q3 financial results and provided Q4 revenue guidance below estimates, leading to a downgrade by Roth MKM from Buy to Neutral. This has resulted in the company's shares trading lower.
November 14, 2023 | 7:13 pm
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NEGATIVE IMPACT
Dragonfly Energy Holdings' shares are expected to face downward pressure in the short term due to disappointing Q3 results, lower Q4 revenue guidance, and a downgrade from Roth MKM.
The negative impact on DFLI's stock price is due to the combination of weaker than expected financial performance and a downgrade by a notable analyst firm. Poor earnings and lowered future guidance typically reduce investor confidence and can lead to a sell-off in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100