Electrovaya Inc. (NASDAQ:ELVA) Short Interest Update

Electrovaya Inc. (NASDAQ:ELVA - Get Free Report) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 87,400 shares, an increase of 36.1% from the May 15th total of 64,200 shares. Based on an average daily trading volume, of 62,600 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.3% of the company's stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. WealthTrust Axiom LLC boosted its holdings in Electrovaya by 133.9% in the 1st quarter. WealthTrust Axiom LLC now owns 394,079 shares of the company's stock valued at $910,000 after purchasing an additional 225,629 shares during the period. Mink Brook Asset Management LLC boosted its holdings in Electrovaya by 8.3% in the 1st quarter. Mink Brook Asset Management LLC now owns 378,388 shares of the company's stock valued at $874,000 after purchasing an additional 28,935 shares during the period. AMH Equity Ltd bought a new stake in Electrovaya in the 1st quarter valued at $231,000. Polar Asset Management Partners Inc. bought a new stake in Electrovaya in the 4th quarter valued at $5,372,000. Finally, Citadel Advisors LLC bought a new stake in Electrovaya in the 4th quarter valued at $64,000. 22.47% of the stock is currently owned by institutional investors and hedge funds.

Electrovaya Stock Up 1.8%

ELVA stock traded up $0.06 during trading hours on Wednesday, hitting $3.41. The company's stock had a trading volume of 14,991 shares, compared to its average volume of 58,411. The company has a quick ratio of 3.01, a current ratio of 3.89 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $136.78 million, a PE ratio of -85.25 and a beta of 1.40. Electrovaya has a 12 month low of $1.67 and a 12 month high of $3.71. The stock has a 50 day moving average price of $2.94 and a two-hundred day moving average price of $2.63.

Electrovaya (NASDAQ:ELVA - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Electrovaya had a negative return on equity of 0.21% and a negative net margin of 0.06%. The business had revenue of $15.02 million during the quarter, compared to the consensus estimate of $15.95 million. On average, equities research analysts expect that Electrovaya will post 0.1 earnings per share for the current year.

Electrovaya Company Profile

Electrovaya Inc engages in the design, development, manufacture, and sale of lithium-ion batteries, battery management systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications in North America. It offers lithium-ion batteries and systems for materials handling electric vehicles, including forklifts and automated guided vehicles, as well as battery chargers to charge the batteries; electromotive power products for electric trucks, electric buses, and other transportation applications; industrial products for energy storage; and power solutions, such as competencies in building systems for third parties.