Electra Battery Materials (NASDAQ:ELBM) Trading 1.7% Higher – What’s Next?
by Mitch Edgeman · The Markets DailyElectra Battery Materials Corporation (NASDAQ:ELBM – Get Free Report)’s share price was up 1.7% on Thursday . The company traded as high as $0.5149 and last traded at $0.5064. 378,069 shares were traded during trading, an increase of 29% from the average daily volume of 292,987 shares. The stock had previously closed at $0.4978.
Analyst Ratings Changes
A number of research firms have recently weighed in on ELBM. Wall Street Zen upgraded shares of Electra Battery Materials from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. HC Wainwright reiterated a “buy” rating and issued a $2.00 target price on shares of Electra Battery Materials in a research report on Friday, May 22nd. Weiss Ratings raised Electra Battery Materials from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Zacks Research upgraded Electra Battery Materials to a “hold” rating in a report on Thursday, May 21st. Finally, Raymond James Financial reaffirmed a “buy” rating on shares of Electra Battery Materials in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2.00.
Get Our Latest Analysis on Electra Battery Materials
Electra Battery Materials Stock Performance
The firm has a market capitalization of $54.90 million, a P/E ratio of -0.44 and a beta of 2.52. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average of $0.58 and a 200-day moving average of $0.68.
Electra Battery Materials (NASDAQ:ELBM – Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.12 earnings per share (EPS) for the quarter. On average, equities analysts anticipate that Electra Battery Materials Corporation will post 0.14 earnings per share for the current fiscal year.
Institutional Trading of Electra Battery Materials
Large investors have recently bought and sold shares of the business. Cable Car Capital LP acquired a new position in shares of Electra Battery Materials in the 2nd quarter valued at about $223,000. U S Global Investors Inc. acquired a new stake in Electra Battery Materials during the fourth quarter worth approximately $202,000. Aristides Capital LLC acquired a new stake in Electra Battery Materials during the fourth quarter worth approximately $116,000. Jane Street Group LLC bought a new stake in Electra Battery Materials in the fourth quarter worth approximately $82,000. Finally, PEAK6 LLC bought a new stake in Electra Battery Materials in the fourth quarter worth approximately $840,000. 32.90% of the stock is currently owned by institutional investors and hedge funds.
About Electra Battery Materials
Electra Battery Materials Inc is a Canada-based battery materials company focused on the sourcing, refining and recycling of critical minerals used in lithium-ion batteries. The company’s core business activities include the development of hydrometallurgical processing facilities to convert raw feedstocks—such as mined ores, recycled battery black mass and industrial by-products—into battery-grade nickel, cobalt, lithium and other specialty materials. Electra’s business model centers on vertically integrated operations designed to secure supply chain resilience for North American and global electric vehicle (EV) and energy storage markets.
In 2022, Electra Battery Materials completed a business combination transaction and commenced trading on the NASDAQ under the ticker ELBM.