Electrovaya (ELVA) Stock Price, News & Analysis

Company Overview

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. The company was formerly known as Electrofuel Inc. and changed its name to Electrovaya Inc. in March 2002. Electrovaya Inc. was incorporated in 1996 and is headquartered in Mississauga, Canada.

Key Stats

• Today's Range: $2.16 to $2.25
• 50-Day Range: $2.06 to $2.85
• 52-Week Range: $1.67 to $4.58
• Volume: 54,866 shs
• Average Volume: 42,371 shs
• Market Capitalization: $75.79 million
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $7.25
• Consensus Rating: Buy

Electrovaya Stock Analysis - MarketRank™

Electrovaya scored higher than 41% of companies evaluated by MarketBeat, and ranked 476th out of 664 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.5 / 5
• Analyst Rating: Buy

Consensus Rating

Electrovaya has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 5 buy ratings, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

Electrovaya has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Electrovaya are expected to grow in the coming year, from ($0.05) to $0.21 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Electrovaya is -71.67, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Electrovaya is -71.67, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Electrovaya has a P/B Ratio of 10.09. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

0.52% of the float of Electrovaya has been sold short.

Short Interest Ratio / Days to Cover

Electrovaya has a short interest ratio ("days to cover") of 2.5, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Electrovaya has recently increased by 104.33%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Electrovaya does not currently pay a dividend.

Dividend Growth

Electrovaya does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

0.52% of the float of Electrovaya has been sold short.

Short Interest Ratio / Days to Cover

Electrovaya has a short interest ratio ("days to cover") of 2.5, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Electrovaya has recently increased by 104.33%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 1.9 / 5
• News Sentiment: 0.38

News Sentiment

Electrovaya has a news sentiment score of 0.38. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.61 average news sentiment score of Computer and Technology companies.

News Coverage This Week

MarketBeat has tracked 19 news articles for Electrovaya this week, compared to 2 articles on an average week.

Search Interest

Only 5 people have searched for ELVA on MarketBeat in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

Company Ownership

• Score: 0.0 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Electrovaya insiders have not sold or bought any company stock.

Percentage Held by Institutions

Only 22.47% of the stock of Electrovaya is held by institutions.

ELVA Stock Analysis - Frequently Asked Questions

How have ELVA shares performed this year?

Electrovaya's stock was trading at $3.06 at the start of the year. Since then, ELVA shares have decreased by 27.5% and is now trading at $2.22.
View the best growth stocks for 2024 here.

How were Electrovaya's earnings last quarter?

Electrovaya Inc. (NASDAQ:ELVA) released its quarterly earnings results on Tuesday, May, 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by $0.05. The firm earned $10.70 million during the quarter, compared to analysts' expectations of $16.42 million. Electrovaya had a negative trailing twelve-month return on equity of 8.02% and a negative net margin of 1.34%.

How do I buy shares of Electrovaya?

Shares of ELVA stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Electrovaya own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Electrovaya investors own include Medical Properties Trust (MPW), Oxford Square Capital (OXSQ), Abrdn Global Infrastructure Income Fund (ASGI), Aberdeen Total Dynamic Dividend Fund (AOD), Annaly Capital Management (NLY), Realty Income (O) and Oxford Lane Capital (OXLC).

Company Calendar

• Last Earnings: 5/14/2024
• Today: 12/18/2024
• Fiscal Year End: 9/30/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Computer and Technology
• Industry: Miscellaneous electrical machinery, equipment, & supplies
• Sub-Industry: N/A
• Current Symbol: NASDAQ:ELVA
• Previous Symbol: NASDAQ:ELVA
• CUSIP: N/A
• CIK: 1844450
• Web: electrovaya.com
• Phone: 905-855-4610
• Fax: N/A
• Employees: 97
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $7.25
• High Stock Price Target: $10.00
• Low Stock Price Target: $5.00
• Potential Upside/Downside: +237.2%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 5 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($0.03)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-1,480,000.00
• Net Margins: -1.34%
• Pretax Margin: 1.31%
• Return on Equity: -8.02%
• Return on Assets: -1.63%

Debt

• Debt-to-Equity Ratio: 0.26
• Current Ratio: 0.99
• Quick Ratio: 0.54

Sales & Book Value

• Annual Sales: $44.59 million
• Price / Sales: 1.65
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $0.22 per share
• Price / Book: 9.77

Miscellaneous

• Outstanding Shares: 34,138,000
• Free Float: N/A
• Market Cap: $73.40 million
• Optionable: Not Optionable
• Beta: 1.91