Electrovaya's (ELVA) Hold (C-) Rating Reaffirmed at Weiss Ratings

Key Points

• Electrovaya's stock received a "hold (C-)" rating reaffirmed by Weiss Ratings, amidst mixed evaluations from other analysts.
• The company reported a loss of $0.02 EPS in its last quarterly earnings, below the consensus estimate of $0.04.
• Electrovaya's shares have a 52-week range of $1.73 to $7.72, with current trading around $6.60 and an average price target of $6.50.

Electrovaya (NASDAQ:ELVA - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by investment analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

A number of other equities analysts have also weighed in on the company. Wall Street Zen lowered Electrovaya from a "buy" rating to a "hold" rating in a research report on Sunday, September 28th. Zacks Research lowered Electrovaya from a "hold" rating to a "strong sell" rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $6.50.

Electrovaya Price Performance

Shares of ELVA opened at $6.60 on Friday. Electrovaya has a 52-week low of $1.73 and a 52-week high of $7.72. 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 50 day moving average price is $6.18 and its two-hundred day moving average price is $4.37. The firm has a market cap of $264.73 million, a PE ratio of 220.07 and a beta of 1.54.

Electrovaya (NASDAQ:ELVA - Get Free Report) last issued its quarterly 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). Electrovaya had a net margin of 2.19% and a return on equity of 6.66%. The business had revenue of $17.13 million during the quarter, compared to analyst estimates of $17.25 million. Electrovaya has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Electrovaya will post 0.1 EPS for the current year.

Institutional Investors Weigh In On Electrovaya

Institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC bought a new stake in Electrovaya during the third quarter worth $46,000. AMH Equity Ltd bought a new stake in Electrovaya during the first quarter worth $231,000. Calamos Advisors LLC bought a new stake in Electrovaya during the third quarter worth $419,000. Mink Brook Asset Management LLC grew its holdings in Electrovaya by 8.3% during the first quarter. Mink Brook Asset Management LLC now owns 378,388 shares of the company's stock worth $874,000 after buying an additional 28,935 shares in the last quarter. Finally, WealthTrust Axiom LLC grew its holdings in Electrovaya by 133.9% during the first quarter. WealthTrust Axiom LLC now owns 394,079 shares of the company's stock worth $910,000 after buying an additional 225,629 shares in the last quarter. Institutional investors own 22.47% of the company's stock.

Electrovaya Company Profile

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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