Electrovaya (NASDAQ:ELVA - Get Free Report) was upgraded by equities researchers at Wall Street Zen to a "hold" rating in a research note issued to investors on Saturday.
Electrovaya Price Performance
Shares of ELVA stock opened at $3.83 on Friday. The firm has a 50 day moving average price of $3.24 and a two-hundred day moving average price of $2.74. The company has a debt-to-equity ratio of 0.69, a quick ratio of 3.01 and a current ratio of 3.89. Electrovaya has a 12-month low of $1.67 and a 12-month high of $3.89.
Electrovaya (NASDAQ:ELVA - Get Free Report) last issued 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). Electrovaya had a negative return on equity of 0.21% and a negative net margin of 0.06%. The company had revenue of $15.02 million for the quarter, compared to analyst estimates of $15.95 million. Research analysts predict that Electrovaya will post 0.1 earnings per share for the current year.
Institutional Investors Weigh In On Electrovaya
Hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd acquired a new stake in shares of Electrovaya in the fourth quarter valued at approximately $27,000. Citadel Advisors LLC acquired a new stake in shares of Electrovaya in the fourth quarter valued at approximately $64,000. AMH Equity Ltd acquired a new stake in shares of Electrovaya in the first quarter valued at approximately $231,000. WealthTrust Axiom LLC raised its position in shares of Electrovaya by 181.2% in the fourth quarter. WealthTrust Axiom LLC now owns 168,450 shares of the company's stock valued at $418,000 after buying an additional 108,550 shares in the last quarter. Finally, Manatuck Hill Partners LLC acquired a new stake in shares of Electrovaya in the fourth quarter valued at approximately $434,000. 22.47% of the stock is currently owned by institutional investors and hedge funds.
Electrovaya Company Profile
(
Get Free Report)
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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