Electrovaya Inc. (NASDAQ:ELVA - Get Free Report) rose 2.6% on Wednesday . The company traded as high as $3.60 and last traded at $3.52. Approximately 201,962 shares changed hands during mid-day trading, an increase of 226% from the average daily volume of 61,922 shares. The stock had previously closed at $3.43.
Electrovaya Price Performance
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 business has a 50 day moving average price of $3.19 and a two-hundred day moving average price of $2.72.
Electrovaya (NASDAQ:ELVA - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). Electrovaya had a negative net margin of 0.06% and a negative return on equity of 0.21%. The company had revenue of $15.02 million during the quarter, compared to the consensus estimate of $15.95 million. Equities research analysts forecast that Electrovaya Inc. will post 0.1 earnings per share for the current year.
Institutional Investors Weigh In On Electrovaya
Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in Electrovaya in the 4th quarter worth approximately $27,000. Citadel Advisors LLC purchased a new stake in Electrovaya in the 4th quarter worth approximately $64,000. AMH Equity Ltd purchased a new stake in Electrovaya in the 1st quarter worth approximately $231,000. WealthTrust Axiom LLC lifted its holdings in 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 buying an additional 108,550 shares during the period. Finally, Manatuck Hill Partners LLC purchased a new stake in Electrovaya in the 4th quarter worth approximately $434,000. Hedge funds and other institutional investors own 22.47% of the company's stock.
About Electrovaya
(
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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