Investment institution Canaccord Genuity recently updated its target price assessment for Dragonfly Energy Holdings Corp.

The institution has adjusted the target price from the original $22.5 to $3.25, mainly reflecting the company's implementation of a 10-for-1 reverse stock split. The reverse stock split has changed the equity ratio represented by each share, so the target price needs to be recalculated accordingly. The adjusted target price more accurately reflects the valuation level under the company's current capital structure. This adjustment is a technical correction and does not involve a reassessment of the company's fundamentals.