Electrovaya Inc. (NASDAQ:ELVA) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts rate Electrovaya a "Moderate Buy" — consensus from five firms (2 hold, 2 buy, 1 strong buy) with an average 12‑month price target of about $11.17.
• Several institutions established or increased stakes (Caldwell, Hillsdale, Calamos, CIBC and WealthTrust Axiom), and institutional ownership now stands at 22.47%.
• Shares opened at $8.26 with a 52‑week range of $2.30–$11.88 and a market cap near $396M; the company reported quarterly EPS of $0.02 (above estimate) on $15.5M revenue (below estimate) and shows strong liquidity (quick ratio 4.69, current ratio 6.02).

Shares of Electrovaya Inc. (NASDAQ:ELVA - Get Free Report) have earned a consensus rating of "Moderate Buy" from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $11.1667.

ELVA has been the subject of several analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Electrovaya in a research note on Friday, March 27th. Raymond James Financial restated a "strong-buy" rating on shares of Electrovaya in a research note on Wednesday, March 18th. Oppenheimer initiated coverage on Electrovaya in a research note on Thursday, December 18th. They issued an "outperform" rating and a $14.00 target price for the company. Finally, Roth Mkm restated a "buy" rating and issued a $10.00 target price on shares of Electrovaya in a research note on Friday, February 13th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Caldwell Investment Management Ltd. purchased a new stake in shares of Electrovaya in the 3rd quarter valued at about $2,424,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Electrovaya in the 3rd quarter valued at about $1,677,000. Calamos Advisors LLC purchased a new stake in shares of Electrovaya in the 3rd quarter valued at about $419,000. Cibc World Market Inc. purchased a new stake in shares of Electrovaya in the 3rd quarter valued at about $449,000. Finally, WealthTrust Axiom LLC raised its holdings in shares of Electrovaya by 23.1% in the 4th quarter. WealthTrust Axiom LLC now owns 505,854 shares of the company's stock valued at $3,996,000 after acquiring an additional 94,950 shares in the last quarter. Institutional investors own 22.47% of the company's stock.

Electrovaya Price Performance

Shares of NASDAQ ELVA opened at $8.26 on Monday. Electrovaya has a 52 week low of $2.30 and a 52 week high of $11.88. The business has a 50-day simple moving average of $8.14 and a two-hundred day simple moving average of $7.34. The company has a quick ratio of 4.69, a current ratio of 6.02 and a debt-to-equity ratio of 0.48. The company has a market cap of $396.15 million, a P/E ratio of 68.84, a P/E/G ratio of 1.03 and a beta of 1.41.

Electrovaya (NASDAQ:ELVA - Get Free Report) last issued its earnings results on Thursday, February 12th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. Electrovaya had a return on equity of 14.29% and a net margin of 7.07%.The business had revenue of $15.50 million during the quarter, compared to the consensus estimate of $16.71 million. Research analysts anticipate that Electrovaya will post 0.1 earnings per share for the current fiscal year.

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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