Electrovaya (NASDAQ:ELVA) Trading Down 8.7% – Time to Sell?

Posted by Francis Steltz on May 15th, 2026

Electrovaya Inc. (NASDAQ:ELVA – Get Free Report) fell 8.7% on Friday . The stock traded as low as $9.92 and last traded at $10.1890. 357,359 shares traded hands during trading, a decline of 28% from the average session volume of 497,454 shares. The stock had previously closed at $11.16.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ELVA shares. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Electrovaya in a report on Wednesday, March 18th. Roth Mkm restated a “buy” rating and set a $12.00 price objective on shares of Electrovaya in a research report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Electrovaya in a report on Friday, March 27th. Finally, HC Wainwright lifted their price target on shares of Electrovaya from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.63.

Read Our Latest Analysis on Electrovaya

Electrovaya Stock Performance

The stock’s 50 day moving average is $8.76 and its two-hundred day moving average is $7.86. The company has a current ratio of 6.02, a quick ratio of 4.69 and a debt-to-equity ratio of 0.48. The stock has a market cap of $486.49 million, a price-to-earnings ratio of 81.75, a PEG ratio of 1.31 and a beta of 1.44.

Electrovaya (NASDAQ:ELVA – Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported $999.00 earnings per share for the quarter, topping the consensus estimate of $0.01 by $998.99. Electrovaya had a net margin of 7.07% and a return on equity of 14.29%. The business had revenue of $18.05 million during the quarter, compared to the consensus estimate of $17.74 million. Analysts anticipate that Electrovaya Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP increased its holdings in shares of Electrovaya by 4,900.0% in the fourth quarter. Allworth Financial LP now owns 4,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,920 shares during the period. Solstein Capital LLC acquired a new stake in shares of Electrovaya during the third quarter worth $29,000. Global Retirement Partners LLC purchased a new position in Electrovaya in the 3rd quarter valued at $46,000. TD Waterhouse Canada Inc. increased its stake in Electrovaya by 737.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 9,085 shares of the company’s stock valued at $72,000 after buying an additional 8,000 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in Electrovaya in the 4th quarter valued at $79,000. 22.47% of the stock is currently owned by hedge funds and other institutional investors.

About Electrovaya

(Get Free Report)

Electrovaya is a Canada-based energy storage company that designs and manufactures advanced lithium-ion battery systems and components. The company’s core business revolves around the development of proprietary electrode and cell technologies that deliver high energy density, rapid charge capability and enhanced safety features. Electrovaya’s product portfolio encompasses large-format battery cells, modules, complete battery packs and integrated energy storage systems tailored to industrial, commercial and utility-scale applications.

In the industrial sector, Electrovaya supplies modular battery systems for material-handling equipment such as electric forklifts, automated guided vehicles and airport ground support vehicles.