Electrovaya (NASDAQ:ELVA) Issues Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• Electrovaya reported quarterly earnings of $0.02 per share, falling short of analysts' expectations of $0.04, with revenue at $17.13 million versus an estimate of $17.25 million.
• The company's stock price increased by 1.9%, reaching $4.72, amid a market capitalization of $189.32 million and a price-to-earnings ratio of 157.39.
• Analysts have given Electrovaya a consensus rating of "Buy," with a target price of $6.13, even after a recent downgrade from "buy" to "hold" by Wall Street Zen.

Electrovaya (NASDAQ:ELVA - Get Free Report) announced its earnings results on Wednesday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02), Zacks reports. The business had revenue of $17.13 million for the quarter, compared to analysts' expectations of $17.25 million. Electrovaya had a net margin of 2.19% and a return on equity of 6.66%. Electrovaya updated its FY 2025 guidance to EPS.

Electrovaya Trading Down 4.2%

Electrovaya stock traded down $0.20 during midday trading on Wednesday, reaching $4.57. The stock had a trading volume of 143,702 shares, compared to its average volume of 261,423. The company has a quick ratio of 3.01, a current ratio of 4.03 and a debt-to-equity ratio of 0.91. The firm has a market cap of $183.30 million, a price-to-earnings ratio of 152.38 and a beta of 1.56. Electrovaya has a 52-week low of $1.73 and a 52-week high of $5.24. The company has a fifty day moving average of $4.03 and a 200 day moving average of $3.12.

Institutional Investors Weigh In On Electrovaya

A hedge fund recently raised its stake in Electrovaya stock. Mink Brook Asset Management LLC grew its holdings in Electrovaya Inc. (NASDAQ:ELVA - Free Report) by 4.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 395,101 shares of the company's stock after purchasing an additional 16,713 shares during the period. Electrovaya comprises approximately 1.2% of Mink Brook Asset Management LLC's holdings, making the stock its 13th largest holding. Mink Brook Asset Management LLC owned approximately 0.99% of Electrovaya worth $1,347,000 as of its most recent SEC filing. Institutional investors and hedge funds own 22.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ELVA shares. Zacks Research cut Electrovaya from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 13th. Wall Street Zen cut Electrovaya from a "buy" rating to a "hold" rating in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $6.13.

About Electrovaya

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.