Electrovaya (NASDAQ:ELVA - Get Free Report) was upgraded by stock analysts at Raymond James to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.
Several other equities research analysts also recently commented on ELVA. HC Wainwright dropped their target price on Electrovaya from $16.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, December 13th. Alliance Global Partners initiated coverage on Electrovaya in a report on Thursday, September 26th. They issued a "buy" rating and a $5.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Electrovaya presently has a consensus rating of "Buy" and a consensus price target of $6.70.
Get Our Latest Research Report on ELVA
Electrovaya Stock Up 1.1 %
Shares of ELVA traded up $0.03 on Wednesday, reaching $2.74. The stock had a trading volume of 134,511 shares, compared to its average volume of 102,987. The firm has a market capitalization of $109.85 million, a price-to-earnings ratio of -91.33 and a beta of 1.84. 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 50-day simple moving average of $2.50 and a 200-day simple moving average of $2.32. Electrovaya has a 12-month low of $1.67 and a 12-month high of $4.35.
Institutional Trading of Electrovaya
A hedge fund recently bought a new stake in Electrovaya stock. Penbrook Management LLC purchased a new position in Electrovaya Inc. (NASDAQ:ELVA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 183,215 shares of the company's stock, valued at approximately $448,000. Penbrook Management LLC owned approximately 0.46% of Electrovaya as of its most recent SEC filing. 22.47% of the stock is owned by hedge funds and other institutional investors.
About Electrovaya
(
Get Free Report)
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.
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