Electrovaya Inc. (NASDAQ:ELVA - Get Free Report) has received an average rating of "Buy" from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $6.70.
ELVA has been the subject of a number of analyst reports. Alliance Global Partners initiated coverage on Electrovaya in a research report on Thursday, September 26th. They set a "buy" rating and a $5.00 price objective for the company. Raymond James initiated coverage on Electrovaya in a research report on Thursday. They set a "strong-buy" rating and a $4.50 target price on the stock. Finally, HC Wainwright reduced their price target on shares of Electrovaya from $16.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, December 13th.
Get Our Latest Report on ELVA
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Electrovaya stock. Penbrook Management LLC bought a new stake in Electrovaya Inc. (NASDAQ:ELVA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 183,215 shares of the company's stock, valued at approximately $448,000. Penbrook Management LLC owned approximately 0.46% of Electrovaya at the end of the most recent quarter. 22.47% of the stock is owned by institutional investors and hedge funds.
Electrovaya Stock Up 7.1 %
Shares of NASDAQ:ELVA traded up $0.18 during trading on Thursday, hitting $2.70. The company's stock had a trading volume of 324,868 shares, compared to its average volume of 97,634. Electrovaya has a fifty-two week low of $1.67 and a fifty-two week high of $4.35. The business has a 50 day moving average price of $2.49 and a two-hundred day moving average price of $2.31. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.69 and a current ratio of 1.03. The company has a market capitalization of $108.24 million, a PE ratio of -90.37 and a beta of 1.84.
Electrovaya Company Profile
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Get Free ReportElectrovaya 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.
Further Reading
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