Electrovaya FY2027 EPS Estimate Lowered by HC Wainwright

Key Points

• HC Wainwright cut Electrovaya’s FY2027 EPS estimate to $0.09 from $0.15, while maintaining a “Buy” rating and a $15 price target. The firm forecasts FY2030 EPS of $1.04.
• Electrovaya’s latest quarterly results missed expectations, with EPS of $0.01 versus a $0.03 consensus and revenue of $17.71 million versus estimates of $21.44 million.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and average price target of $17.50, despite shares opening at $7.59 and recently trading below their 50- and 200-day moving averages.

Electrovaya Inc. (NASDAQ:ELVA - Free Report) - Stock analysts at HC Wainwright decreased their FY2027 earnings estimates for Electrovaya in a research report issued to clients and investors on Wednesday, August 12th. HC Wainwright analyst A. Dayal now forecasts that the company will post earnings of $0.09 per share for the year, down from their previous estimate of $0.15. HC Wainwright has a "Buy" rating and a $15.00 price objective on the stock. The consensus estimate for Electrovaya's current full-year earnings is $0.11 per share. HC Wainwright also issued estimates for Electrovaya's FY2030 earnings at $1.04 EPS.

ELVA has been the topic of a number of other research reports. Oppenheimer lowered their price objective on shares of Electrovaya from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Wednesday. Weiss Ratings reiterated a "hold (c)" rating on shares of Electrovaya in a research note on Wednesday, June 24th. Roth Capital restated a "buy" rating on shares of Electrovaya in a research note on Wednesday, July 15th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Electrovaya in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Electrovaya presently has a consensus rating of "Moderate Buy" and an average price target of $17.50.

Electrovaya Stock Down 0.9%

Electrovaya stock opened at $7.59 on Friday. Electrovaya has a 12 month low of $4.10 and a 12 month high of $12.78. The stock has a fifty day simple moving average of $9.31 and a two-hundred day simple moving average of $9.20. The company has a current ratio of 7.66, a quick ratio of 5.93 and a debt-to-equity ratio of 0.54. The firm has a market cap of $375.78 million, a price-to-earnings ratio of 69.01, a PEG ratio of 1.22 and a beta of 1.69.

Electrovaya (NASDAQ:ELVA - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.02). Electrovaya had a return on equity of 8.58% and a net margin of 6.14%.The firm had revenue of $17.71 million during the quarter, compared to analysts' expectations of $21.44 million.

Institutional Investors Weigh In On Electrovaya

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELVA. Allworth Financial LP increased its stake in shares of Electrovaya by 4,900.0% in the fourth quarter. Allworth Financial LP now owns 4,000 shares of the company's stock worth $32,000 after purchasing an additional 3,920 shares in the last quarter. Granahan Investment Management LLC increased its stake in Electrovaya by 2.7% in the 1st quarter. Granahan Investment Management LLC now owns 200,195 shares of the company's stock worth $1,566,000 after buying an additional 5,234 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in Electrovaya by 737.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 9,085 shares of the company's stock valued at $72,000 after acquiring an additional 8,000 shares during the period. Lazard Asset Management LLC raised its holdings in Electrovaya by 10.3% during the fourth quarter. Lazard Asset Management LLC now owns 86,347 shares of the company's stock valued at $682,000 after acquiring an additional 8,090 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Electrovaya by 18.4% in the first quarter. Dimensional Fund Advisors LP now owns 57,908 shares of the company's stock valued at $451,000 after acquiring an additional 8,983 shares in the last quarter. 22.47% of the stock is owned by hedge funds and other institutional investors.

About Electrovaya

Electrovaya is a Canada-based energy storage company that designs and manufactures advanced lithium-ion battery systems and components. The company's core business revolves around the development of proprietary electrode and cell technologies that deliver high energy density, rapid charge capability and enhanced safety features. Electrovaya's product portfolio encompasses large-format battery cells, modules, complete battery packs and integrated energy storage systems tailored to industrial, commercial and utility-scale applications.

In the industrial sector, Electrovaya supplies modular battery systems for material-handling equipment such as electric forklifts, automated guided vehicles and airport ground support vehicles.

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