Electrovaya (NASDAQ:ELVA) Rating Reiterated by HC Wainwright

HC Wainwright restated their buy rating on shares of Electrovaya (NASDAQ:ELVA) in a report published on Wednesday, Benzinga reports. They currently have a $16.00 target price on the stock. HC Wainwright also issued estimates for Electrovaya’s Q4 2024 earnings at $0.00 EPS, FY2024 earnings at ($0.04) EPS, FY2025 earnings at $0.34 EPS, FY2026 earnings at $0.60 EPS, FY2027 earnings at $0.96 EPS and FY2028 earnings at $1.37 EPS.

Other research analysts also recently issued research reports about the stock. Craig Hallum reduced their price target on shares of Electrovaya from $10.00 to $9.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. Roth Mkm reaffirmed a buy rating and set a $8.00 target price on shares of Electrovaya in a research report on Wednesday, May 15th.

Electrovaya Stock Performance

Shares of NASDAQ ELVA opened at $2.03 on Wednesday. Electrovaya has a 1 year low of $1.67 and a 1 year high of $4.58. The firm has a 50-day simple moving average of $2.49 and a two-hundred day simple moving average of $3.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.58.

Electrovaya (NASDAQ:ELVA) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). The business had revenue of $10.27 million for the quarter, compared to the consensus estimate of $17.84 million. Electrovaya had a negative return on equity of 2.83% and a negative net margin of 0.44%. As a group, research analysts anticipate that Electrovaya will post 0.1 EPS for the current fiscal year.

Institutional Trading of Electrovaya

An institutional investor recently bought a new position in Electrovaya stock. Worth Venture Partners LLC bought a new stake in shares of Electrovaya Inc. (NASDAQ:ELVA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 820,538 shares of the company’s stock, valued at approximately $2,510,000. Electrovaya accounts for about 1.4% of Worth Venture Partners LLC’s investment portfolio, making the stock its 22nd largest position. Worth Venture Partners LLC owned 2.42% of Electrovaya at the end of the most recent reporting period. Institutional investors and hedge funds own 22.47% of the company’s stock.

Electrovaya Company Profile

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.