HC Wainwright Increases Earnings Estimates for Electrovaya

Key Points

• HC Wainwright raised its FY2028 EPS estimate for Electrovaya to $0.62 (from $0.61), while the consensus for the current full year remains about $0.15 per share.
• Electrovaya last reported quarterly EPS of $0.02, beating the $0.01 consensus, but revenue missed at $15.5 million versus estimates of $16.71 million.
• The stock has a "Moderate Buy" consensus with a $11.17 price target; shares trade around $9.00 with a market cap of about $445.6M and a high P/E of 75.01.

Electrovaya Inc. (NASDAQ:ELVA - Free Report) - Analysts at HC Wainwright boosted their FY2028 EPS estimates for Electrovaya in a report released on Wednesday, April 29th. HC Wainwright analyst A. Dayal now expects that the company will post earnings of $0.62 per share for the year, up from their previous estimate of $0.61. The consensus estimate for Electrovaya's current full-year earnings is $0.15 per share.

Electrovaya (NASDAQ:ELVA - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. Electrovaya had a net margin of 7.07% and a return on equity of 14.29%. The firm had revenue of $15.50 million for the quarter, compared to analyst estimates of $16.71 million.

Other equities research analysts also recently issued research reports about the stock. Roth Mkm reiterated a "buy" rating and issued a $10.00 target price on shares of Electrovaya in a research report on Friday, February 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Electrovaya in a research report on Friday, March 27th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Electrovaya in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $11.17.

Electrovaya Trading Down 0.2%

Electrovaya stock opened at $9.00 on Thursday. The company has a 50 day moving average price of $8.28 and a 200 day moving average price of $7.62. Electrovaya has a 52 week low of $2.55 and a 52 week high of $11.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.69 and a current ratio of 6.02. The firm has a market capitalization of $445.56 million, a price-to-earnings ratio of 75.01, a P/E/G ratio of 1.16 and a beta of 1.41.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Solstein Capital LLC bought a new position in Electrovaya in the 3rd quarter worth $29,000. Allworth Financial LP increased its holdings in shares of Electrovaya by 4,900.0% during the 4th quarter. Allworth Financial LP now owns 4,000 shares of the company's stock worth $32,000 after purchasing an additional 3,920 shares during the period. Global Retirement Partners LLC bought a new position in shares of Electrovaya during the 3rd quarter worth about $46,000. TD Waterhouse Canada Inc. increased its holdings in shares of Electrovaya by 737.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 9,085 shares of the company's stock worth $72,000 after purchasing an additional 8,000 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in shares of Electrovaya during the 3rd quarter worth about $74,000. Institutional investors own 22.47% of the company's stock.

About Electrovaya

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.