Electra Battery Materials Corporation (NASDAQ:ELBM – Get Free Report)’s share price rose 3.2% during mid-day trading on Monday . The stock traded as high as $0.6371 and last traded at $0.6159. Approximately 421,863 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 916,847 shares. The stock had previously closed at $0.5966.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on ELBM. Zacks Research upgraded Electra Battery Materials to a “hold” rating in a report on Thursday, May 21st. Raymond James Financial reiterated a “buy” rating on shares of Electra Battery Materials in a report on Friday, May 22nd. Wall Street Zen upgraded Electra Battery Materials from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. HC Wainwright reiterated a “buy” rating and set a $2.00 price objective on shares of Electra Battery Materials in a report on Friday, May 22nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Electra Battery Materials in a report on Thursday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Electra Battery Materials currently has an average rating of “Hold” and a consensus price target of $2.00.
Get Our Latest Stock Analysis on ELBM
Electra Battery Materials Stock Performance
Electra Battery Materials (NASDAQ:ELBM – Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.12 earnings per share (EPS) for the quarter. On average, research analysts anticipate that Electra Battery Materials Corporation will post 0.14 EPS for the current year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of ELBM. Cable Car Capital LP acquired a new position in Electra Battery Materials during the second quarter valued at approximately $223,000. Rathbones Group PLC boosted its position in Electra Battery Materials by 33.3% during the third quarter. Rathbones Group PLC now owns 100,171 shares of the company’s stock valued at $121,000 after purchasing an additional 25,000 shares during the last quarter. U S Global Investors Inc. acquired a new position in Electra Battery Materials during the fourth quarter valued at approximately $202,000. Aristides Capital LLC acquired a new position in Electra Battery Materials during the fourth quarter valued at approximately $116,000. Finally, Jane Street Group LLC acquired a new position in Electra Battery Materials during the fourth quarter valued at approximately $82,000. 32.90% of the stock is owned by institutional investors and hedge funds.
About Electra Battery Materials
Electra Battery Materials Inc is a Canada-based battery materials company focused on the sourcing, refining and recycling of critical minerals used in lithium-ion batteries. The company’s core business activities include the development of hydrometallurgical processing facilities to convert raw feedstocks—such as mined ores, recycled battery black mass and industrial by-products—into battery-grade nickel, cobalt, lithium and other specialty materials. Electra’s business model centers on vertically integrated operations designed to secure supply chain resilience for North American and global electric vehicle (EV) and energy storage markets.
In 2022, Electra Battery Materials completed a business combination transaction and commenced trading on the NASDAQ under the ticker ELBM.
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