Electrovaya (NASDAQ:ELVA - Free Report) had its price objective reduced by Craig Hallum from $10.00 to $9.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Craig Hallum currently has a buy rating on the stock.
ELVA has been the subject of several other reports. Roth Capital reiterated a buy rating on shares of Electrovaya in a research report on Wednesday, March 6th. Roth Mkm reiterated a buy rating and set a $8.00 price target on shares of Electrovaya in a research report on Wednesday. Finally, HC Wainwright reaffirmed a buy rating and set a $16.00 price objective on shares of Electrovaya in a research report on Wednesday.
Check Out Our Latest Stock Report on ELVA
Electrovaya Price Performance
Electrovaya stock traded down $0.07 during midday trading on Wednesday, reaching $3.09. The company had a trading volume of 31,189 shares, compared to its average volume of 41,478. Electrovaya has a 12-month low of $2.34 and a 12-month high of $5.50. The firm's fifty day simple moving average is $3.46 and its 200-day simple moving average is $3.39. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.98 and a quick ratio of 0.61. The company has a market capitalization of $104.69 million and a P/E ratio of 154.58.
Electrovaya (NASDAQ:ELVA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). The firm had revenue of $10.70 million for the quarter, compared to analysts' expectations of $16.42 million. Electrovaya had a return on equity of 12.44% and a net margin of 1.79%. As a group, equities analysts anticipate that Electrovaya will post 0.18 EPS for the current year.
Institutional Trading of Electrovaya
Hedge funds have recently modified their holdings of the stock. AIGH Capital Management LLC purchased a new stake in Electrovaya during the third quarter worth approximately $9,582,000. Toronto Dominion Bank purchased a new stake in shares of Electrovaya in the third quarter valued at approximately $67,000. Finally, Worth Venture Partners LLC purchased a new stake in shares of Electrovaya during the 4th quarter worth $2,510,000. 22.47% of the stock is currently owned by institutional investors and hedge funds.
Electrovaya Company Profile
(
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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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