Electrovaya (NASDAQ:ELVA) Receives Hold (C-) Rating from Weiss Ratings

Key Points

• Electrovaya's stock retains a "hold (C-)" rating from Weiss Ratings, indicating a cautious outlook from analysts.
• The company's quarterly earnings fell short of expectations, reporting $0.02 EPS against a consensus estimate of $0.04, with revenues of $17.13 million.
• Electrovaya's market cap stands at $262.72 million with a price-to-earnings ratio of 218.41 and significant volatility as indicated by a beta of 1.54.

Electrovaya (NASDAQ:ELVA - Get Free Report)'s stock had its "hold (c-)" rating reiterated by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts have also issued reports on the company. Zacks Research upgraded Electrovaya from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 11th. Wall Street Zen lowered Electrovaya from a "buy" rating to a "hold" rating in a research note on Sunday, September 28th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $6.50.

Electrovaya Stock Performance

Shares of Electrovaya stock traded down $0.09 during trading on Wednesday, reaching $6.55. The company's stock had a trading volume of 368,272 shares, compared to its average volume of 507,389. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.88 and a current ratio of 4.03. The business's fifty day moving average price is $5.72 and its 200-day moving average price is $4.02. The firm has a market cap of $262.72 million, a price-to-earnings ratio of 218.41 and a beta of 1.54. Electrovaya has a one year low of $1.73 and a one year high of $7.49.

Electrovaya (NASDAQ:ELVA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). Electrovaya had a return on equity of 6.66% and a net margin of 2.19%.The business had revenue of $17.13 million during the quarter, compared to the consensus estimate of $17.25 million. Electrovaya has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Electrovaya will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On Electrovaya

A number of large investors have recently bought and sold shares of ELVA. WealthTrust Axiom LLC grew its position in Electrovaya by 133.9% during the 1st quarter. WealthTrust Axiom LLC now owns 394,079 shares of the company's stock worth $910,000 after acquiring an additional 225,629 shares during the last quarter. Penbrook Management LLC grew its position in Electrovaya by 69.1% during the 2nd quarter. Penbrook Management LLC now owns 308,111 shares of the company's stock worth $1,050,000 after acquiring an additional 125,896 shares during the last quarter. AMH Equity Ltd bought a new stake in Electrovaya during the 1st quarter worth approximately $231,000. Herald Investment Management Ltd grew its position in Electrovaya by 7.2% during the 2nd quarter. Herald Investment Management Ltd now owns 1,265,000 shares of the company's stock worth $4,314,000 after acquiring an additional 85,000 shares during the last quarter. Finally, Mink Brook Asset Management LLC grew its position in Electrovaya by 8.3% during the 1st quarter. Mink Brook Asset Management LLC now owns 378,388 shares of the company's stock worth $874,000 after acquiring an additional 28,935 shares during the last quarter. 22.47% of the stock is currently owned by institutional investors.

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.

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