FY2025 EPS Estimate for Electrovaya Raised by Analyst

Key Points

• Raymond James Financial has increased its FY2025 earnings per share estimate for Electrovaya from $0.05 to $0.08, suggesting a positive outlook for the company's financial performance.
• Electrovaya's stock has recently been downgraded from a "buy" to a "hold" rating by Wall Street Zen, although the consensus remains a "Buy" with a price target of $6.13.
• Electrovaya reported quarterly earnings of $0.02 per share, falling short of the consensus estimate of $0.04, which may impact investor sentiment.

Electrovaya Inc. (NASDAQ:ELVA - Free Report) - Stock analysts at Raymond James Financial boosted their FY2025 earnings per share estimates for Electrovaya in a research report issued to clients and investors on Thursday, August 14th. Raymond James Financial analyst D. Magder now anticipates that the company will earn $0.08 per share for the year, up from their previous estimate of $0.05. The consensus estimate for Electrovaya's current full-year earnings is $0.10 per share. Raymond James Financial also issued estimates for Electrovaya's FY2026 earnings at $0.24 EPS.

A number of other brokerages also recently issued reports on ELVA. Wall Street Zen downgraded Electrovaya from a "buy" rating to a "hold" rating in a research note on Monday, July 28th. Zacks Research downgraded Electrovaya from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Electrovaya has an average rating of "Moderate Buy" and a consensus price target of $6.13.

Electrovaya Stock Performance

NASDAQ:ELVA traded down $0.20 during trading on Friday, reaching $4.57. The company's stock had a trading volume of 140,920 shares, compared to its average volume of 97,213. The firm has a market cap of $183.30 million, a price-to-earnings ratio of 152.38 and a beta of 1.56. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.01 and a current ratio of 4.03. The firm has a 50 day moving average of $4.01 and a 200-day moving average of $3.11. Electrovaya has a 12 month low of $1.73 and a 12 month high of $5.24.

Electrovaya (NASDAQ:ELVA - Get Free Report) last announced 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 return on equity of 6.66% and a net margin of 2.19%.The company had revenue of $17.13 million for the quarter, compared to the consensus estimate of $17.25 million. Electrovaya has set its FY 2025 guidance at EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ELVA. Polar Asset Management Partners Inc. bought a new position in shares of Electrovaya during the 4th quarter worth $5,372,000. Herald Investment Management Ltd grew its stake in shares of Electrovaya by 372.0% during the 4th quarter. Herald Investment Management Ltd now owns 1,180,000 shares of the company's stock worth $2,856,000 after acquiring an additional 930,000 shares during the period. Mink Brook Asset Management LLC bought a new position in shares of Electrovaya during the 4th quarter worth $867,000. WealthTrust Axiom LLC grew its stake in shares of Electrovaya by 133.9% during the 1st quarter. WealthTrust Axiom LLC now owns 394,079 shares of the company's stock worth $910,000 after acquiring an additional 225,629 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of Electrovaya during the 4th quarter worth $435,000. Institutional investors own 22.47% of the company's stock.

About Electrovaya

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.