Seaport Res Ptn Cuts Earnings Estimates for Electrovaya

Electrovaya Inc. (NASDAQ:ELVA - Free Report) - Investment analysts at Seaport Res Ptn dropped their Q1 2026 earnings per share (EPS) estimates for shares of Electrovaya in a report released on Monday, May 19th. Seaport Res Ptn analyst J. Campbell now anticipates that the company will post earnings per share of $0.00 for the quarter, down from their previous estimate of $0.04. The consensus estimate for Electrovaya's current full-year earnings is $0.10 per share.

Other analysts have also issued research reports about the stock. HC Wainwright restated a "buy" rating and set a $10.00 price target on shares of Electrovaya in a research report on Friday, February 14th. Roth Mkm restated a "buy" rating and issued a $5.00 price target (up previously from $4.00) on shares of Electrovaya in a research note on Friday, February 14th. Finally, Raymond James set a $4.50 price objective on Electrovaya and gave the company a "strong-buy" rating in a research report on Thursday, January 30th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Electrovaya currently has a consensus rating of "Buy" and an average target price of $6.10.

Electrovaya Stock Performance

Shares of NASDAQ:ELVA traded down $0.01 during trading on Wednesday, hitting $3.10. 52,109 shares of the stock traded hands, compared to its average volume of 54,255. The company has a quick ratio of 0.69, a current ratio of 1.55 and a debt-to-equity ratio of 0.08. The company has a fifty day moving average price of $2.65 and a two-hundred day moving average price of $2.51. Electrovaya has a 52-week low of $1.67 and a 52-week high of $3.44. The company has a market cap of $124.33 million, a price-to-earnings ratio of -77.50 and a beta of 1.22.

Electrovaya (NASDAQ:ELVA - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Electrovaya had a negative return on equity of 15.42% and a negative net margin of 3.88%. The company had revenue of $15.02 million for the quarter, compared to analyst estimates of $15.95 million.

Hedge Funds Weigh In On Electrovaya

A number of hedge funds have recently made changes to their positions in ELVA. Polar Asset Management Partners Inc. acquired a new position in Electrovaya in the 4th quarter valued at $5,372,000. Herald Investment Management Ltd raised its holdings in Electrovaya by 372.0% in the 4th quarter. Herald Investment Management Ltd now owns 1,180,000 shares of the company's stock valued at $2,856,000 after acquiring an additional 930,000 shares during the last quarter. Mink Brook Asset Management LLC acquired a new stake in Electrovaya in the 4th quarter valued at about $867,000. WealthTrust Axiom LLC lifted its stake in Electrovaya by 133.9% in the 1st quarter. WealthTrust Axiom LLC now owns 394,079 shares of the company's stock worth $910,000 after purchasing an additional 225,629 shares in the last quarter. Finally, Penbrook Management LLC purchased a new stake in shares of Electrovaya in the fourth quarter valued at approximately $448,000. Institutional investors and hedge funds 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.