Electrovaya Inc. (NASDAQ:ELVA – Get Free Report) has been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $17.50.
Several equities analysts have weighed in on the stock. Roth Capital reaffirmed a “buy” rating on shares of Electrovaya in a report on Wednesday, July 15th. Wall Street Zen lowered Electrovaya from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of Electrovaya from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Oppenheimer decreased their target price on Electrovaya from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Electrovaya in a report on Thursday, July 16th.
Read Our Latest Research Report on Electrovaya
Electrovaya Stock Performance
Shares of ELVA opened at $5.28 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.72 and a current ratio of 7.53. Electrovaya has a 52-week low of $4.10 and a 52-week high of $12.78. The stock has a market capitalization of $263.99 million, a price-to-earnings ratio of 48.00, a price-to-earnings-growth ratio of 0.81 and a beta of 1.64. The stock’s 50-day simple moving average is $6.14 and its 200 day simple moving average is $8.42.
Electrovaya (NASDAQ:ELVA – Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The firm had revenue of $17.71 million during the quarter, compared to the consensus estimate of $21.44 million. Electrovaya had a return on equity of 7.96% and a net margin of 6.14%. Research analysts forecast that Electrovaya will post 0.05 EPS for the current fiscal year.
Institutional Investors Weigh In On Electrovaya
A number of hedge funds and other institutional investors have recently bought and sold shares of ELVA. Penbrook Management LLC lifted its stake in shares of Electrovaya by 16.4% during the 3rd quarter. Penbrook Management LLC now owns 379,606 shares of the company’s stock worth $2,487,000 after purchasing an additional 53,375 shares during the period. Lazard Asset Management LLC boosted its stake in Electrovaya by 188.9% during the 1st quarter. Lazard Asset Management LLC now owns 249,429 shares of the company’s stock valued at $1,951,000 after purchasing an additional 163,082 shares in the last quarter. Granahan Investment Management LLC increased its position in shares of Electrovaya by 2.7% in the first quarter. Granahan Investment Management LLC now owns 200,195 shares of the company’s stock worth $1,566,000 after acquiring an additional 5,234 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Electrovaya by 18.4% in the first quarter. Dimensional Fund Advisors LP now owns 57,908 shares of the company’s stock valued at $451,000 after purchasing an additional 8,983 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Electrovaya in the 2nd quarter valued at approximately $146,000. Institutional investors and hedge funds own 22.47% of the company’s stock.
Electrovaya Company Profile
Electrovaya Inc is a Canadian battery technology and manufacturing company that develops lithium-ion batteries, battery systems and related energy-storage solutions. Its products are designed for applications requiring high energy density, long operating life and enhanced safety.
The company serves industrial and transportation markets, including electric material-handling equipment such as forklifts, as well as electric buses, trucks, trains and other commercial vehicles. Electrovaya also develops battery systems for stationary energy storage and other specialized applications.
Founded in 1996, Electrovaya is headquartered in Mississauga, Ontario, and serves customers in North America and international markets.
Featured Articles
- Five stocks we like better than Electrovaya
- Marvell Eyes a Swing for the AI Networking Fences as Markets Weigh Lumentum Price Tag
- Exxon’s Refining Profits Soared—Did Chevron Get the Same Windfall?
- Eli Lilly’s First Full Medicare Quarter: Is Volume Still Outrunning Price Cuts?
- Oracle’s AI Spending Peak Is in Sight—Can the Stock Recover?
Receive News & Ratings for Electrovaya Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electrovaya and related companies with MarketBeat.com's FREE daily email newsletter.
