HC Wainwright reiterated their buy rating on shares of Electrovaya (NASDAQ:ELVA - Free Report) in a report published on Wednesday morning, Benzinga reports. They currently have a $16.00 price objective on the stock.
A number of other research analysts have also recently weighed in on ELVA. Roth Mkm restated a buy rating and issued a $8.00 price objective on shares of Electrovaya in a report on Wednesday. Roth Capital restated a buy rating on shares of Electrovaya in a research note on Wednesday, March 6th.
Check Out Our Latest Research Report on ELVA
Electrovaya Trading Down 2.2 %
Shares of ELVA stock traded down $0.07 during trading hours on Wednesday, hitting $3.09. The company had a trading volume of 31,189 shares, compared to its average volume of 41,478. 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 stock has a market capitalization of $104.69 million and a PE ratio of 154.58. The company's fifty day moving average is $3.48 and its 200 day moving average is $3.39. Electrovaya has a fifty-two week low of $2.34 and a fifty-two week high of $5.50.
Electrovaya (NASDAQ:ELVA - Get Free Report) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05). Electrovaya had a net margin of 1.79% and a return on equity of 12.44%. The firm had revenue of $10.70 million during the quarter, compared to analyst estimates of $16.42 million. Research analysts expect that Electrovaya will post 0.18 earnings per share for the current fiscal year.
Institutional Trading of Electrovaya
A number of large investors have recently made changes to their positions in the company. AIGH Capital Management LLC purchased a new stake in shares of Electrovaya in the 3rd quarter valued at approximately $9,582,000. Toronto Dominion Bank purchased a new position in Electrovaya in the third quarter valued at $67,000. Finally, Worth Venture Partners LLC acquired a new stake in Electrovaya in the fourth quarter valued at $2,510,000. 22.47% of the stock is currently owned by hedge funds and other institutional investors.
Electrovaya Company Profile
(
Get Free Report)
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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