Huntleigh Advisors Inc. acquired a new stake in Electrovaya Inc. (NASDAQ:ELVA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 149,613 shares of the company's stock, valued at approximately $1,182,000. Huntleigh Advisors Inc. owned 0.31% of Electrovaya at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of ELVA. Caldwell Investment Management Ltd. acquired a new stake in Electrovaya in the third quarter valued at approximately $2,424,000. Bank of America Corp DE grew its holdings in Electrovaya by 76,081.0% in the third quarter. Bank of America Corp DE now owns 304,724 shares of the company's stock valued at $1,795,000 after purchasing an additional 304,324 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in Electrovaya in the third quarter valued at approximately $1,677,000. Russell Investments Group Ltd. acquired a new stake in Electrovaya in the third quarter valued at approximately $887,000. Finally, First Trust Advisors LP acquired a new stake in Electrovaya in the third quarter valued at approximately $468,000. 22.47% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ELVA has been the topic of several research analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Electrovaya in a report on Friday, March 27th. Roth Mkm reissued a "buy" rating and issued a $10.00 price objective on shares of Electrovaya in a report on Friday, February 13th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Electrovaya in a report on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Electrovaya presently has a consensus rating of "Moderate Buy" and an average price target of $11.17.
Read Our Latest Stock Report on ELVA
Electrovaya Stock Performance
Shares of NASDAQ:ELVA opened at $9.74 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.02 and a quick ratio of 4.69. The business's 50 day moving average price is $8.20 and its 200-day moving average price is $7.57. The firm has a market capitalization of $482.20 million, a PE ratio of 81.17, a P/E/G ratio of 1.26 and a beta of 1.41. Electrovaya Inc. has a 1 year low of $2.55 and a 1 year high of $11.88.
Electrovaya (NASDAQ:ELVA - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.01. The company had revenue of $15.50 million for the quarter, compared to analyst estimates of $16.71 million. Electrovaya had a return on equity of 14.29% and a net margin of 7.07%. As a group, equities research analysts expect that Electrovaya Inc. will post 0.15 earnings per share for the current fiscal year.
Electrovaya Profile
(
Free Report)
Electrovaya is a Canada-based energy storage company that designs and manufactures advanced lithium-ion battery systems and components. The company's core business revolves around the development of proprietary electrode and cell technologies that deliver high energy density, rapid charge capability and enhanced safety features. Electrovaya's product portfolio encompasses large-format battery cells, modules, complete battery packs and integrated energy storage systems tailored to industrial, commercial and utility-scale applications.
In the industrial sector, Electrovaya supplies modular battery systems for material-handling equipment such as electric forklifts, automated guided vehicles and airport ground support vehicles.
See Also
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