Electrovaya (NASDAQ:ELVA - Get Free Report) was upgraded by research analysts at Wall Street Zen to a "hold" rating in a research note issued to investors on Saturday.
Electrovaya Stock Performance
Shares of ELVA stock traded up $0.09 during trading hours on Friday, reaching $3.87. 103,420 shares of the company traded hands, compared to its average volume of 63,076. The company has a quick ratio of 3.01, a current ratio of 3.89 and a debt-to-equity ratio of 0.69. Electrovaya has a 12-month low of $1.67 and a 12-month high of $4.61. The firm has a 50-day moving average price of $3.24 and a 200 day moving average price of $2.75.
Electrovaya (NASDAQ:ELVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $15.02 million during the quarter, compared to analysts' expectations of $15.95 million. Electrovaya had a negative return on equity of 0.21% and a negative net margin of 0.06%. On average, analysts anticipate that Electrovaya will post 0.1 earnings per share for the current year.
Hedge Funds Weigh In On Electrovaya
Institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new stake in shares of Electrovaya in the fourth quarter worth about $27,000. Citadel Advisors LLC bought a new position in Electrovaya during the 4th quarter worth approximately $64,000. AMH Equity Ltd bought a new position in Electrovaya during the 1st quarter worth approximately $231,000. WealthTrust Axiom LLC lifted its holdings in shares of Electrovaya by 181.2% in the 4th quarter. WealthTrust Axiom LLC now owns 168,450 shares of the company's stock worth $418,000 after purchasing an additional 108,550 shares during the last quarter. Finally, Manatuck Hill Partners LLC acquired a new stake in Electrovaya in the 4th quarter valued at approximately $434,000. 22.47% of the stock is currently owned by institutional investors and hedge funds.
About Electrovaya
(
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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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