Electrovaya Inc. (NASDAQ:ELVA) Receives Average Rating of "Buy" from Analysts

Electrovaya Inc. (NASDAQ:ELVA - Get Free Report) has been assigned a consensus rating of "Buy" from the five research firms that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have covered the stock in the last year is $8.75.

A number of equities research analysts recently weighed in on ELVA shares. Craig Hallum dropped their price target on Electrovaya from $9.00 to $6.00 and set a "buy" rating on the stock in a research note on Wednesday, August 14th. Alliance Global Partners initiated coverage on Electrovaya in a research report on Thursday, September 26th. They issued a "buy" rating and a $5.00 price target on the stock. Finally, HC Wainwright restated a "buy" rating and set a $16.00 price objective on shares of Electrovaya in a research report on Wednesday, August 14th.

Electrovaya Trading Down 3.6 %

Shares of NASDAQ ELVA traded down $0.08 during midday trading on Monday, reaching $2.13. 8,402 shares of the stock were exchanged, compared to its average volume of 33,754. Electrovaya has a 12 month low of $1.67 and a 12 month high of $4.58. The business has a 50-day simple moving average of $2.16 and a two-hundred day simple moving average of $2.59. The company has a market capitalization of $72.18 million, a price-to-earnings ratio of -221.00 and a beta of 1.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.99 and a quick ratio of 0.54.

Electrovaya (NASDAQ:ELVA - Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.06). Electrovaya had a negative return on equity of 8.02% and a negative net margin of 1.34%. The business had revenue of $10.27 million for the quarter, compared to analyst estimates of $17.84 million. As a group, equities research analysts expect that Electrovaya will post -0.05 EPS for the current year.

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.