Electra Battery Materials (NASDAQ:ELBM – Get Free Report)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report released on Tuesday, Benzinga reports. They currently have a $2.00 target price on the stock. HC Wainwright‘s price target points to a potential upside of 350.55% from the stock’s current price.
Separately, Weiss Ratings lowered shares of Electra Battery Materials from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, October 12th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Electra Battery Materials currently has a consensus rating of “Hold” and a consensus price target of $2.00.
Check Out Our Latest Stock Analysis on ELBM
Electra Battery Materials Stock Performance
Shares of ELBM stock opened at $0.44 on Tuesday. The firm has a market capitalization of $47.51 million, a price-to-earnings ratio of -0.41 and a beta of 2.58. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.48. The business’s 50-day moving average price is $0.50 and its 200-day moving average price is $0.62. Electra Battery Materials has a 12 month low of $0.37 and a 12 month high of $1.25.
Institutional Trading of Electra Battery Materials
An institutional investor recently bought a new stake in Electra Battery Materials stock. PEAK6 LLC bought a new position in shares of Electra Battery Materials Corporation (NASDAQ:ELBM – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,249,080 shares of the company’s stock, valued at approximately $754,000. PEAK6 LLC owned about 1.17% of Electra Battery Materials as of its most recent SEC filing. Institutional investors own 32.90% of the company’s stock.
About Electra Battery Materials
Electra Battery Materials Corp. is a Canadian battery materials company focused on producing battery-grade cobalt and other materials used in lithium-ion batteries. The company is developing a hydrometallurgical cobalt refinery in Ontario, Canada, designed to process cobalt-bearing feedstock into cobalt sulfate for use in electric vehicle and energy-storage battery supply chains.
The company’s activities also include battery recycling and the recovery of critical minerals from battery materials, including black mass generated from recycled lithium-ion batteries.
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