Raymond James set a $4.50 price objective on Electrovaya (NASDAQ:ELVA - Free Report) in a research report report published on Thursday,BayStreet.CA reports. The brokerage currently has a strong-buy rating on the stock. Raymond James also issued estimates for Electrovaya's FY2025 earnings at $0.05 EPS, FY2026 earnings at $0.17 EPS and FY2027 earnings at $0.28 EPS.
Separately, HC Wainwright lowered their price target on shares of Electrovaya from $16.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, December 13th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $6.70.
Check Out Our Latest Stock Analysis on Electrovaya
Electrovaya Stock Performance
Shares of NASDAQ:ELVA traded down $0.13 on Thursday, hitting $2.37. The company had a trading volume of 92,109 shares, compared to its average volume of 96,465. The stock has a market cap of $95.01 million, a price-to-earnings ratio of -79.00 and a beta of 1.85. The stock has a 50 day moving average price of $2.53 and a 200 day moving average price of $2.32. Electrovaya has a 1-year low of $1.67 and a 1-year high of $4.35. The company has a current ratio of 1.03, a quick ratio of 0.69 and a debt-to-equity ratio of 0.22.
Hedge Funds Weigh In On Electrovaya
An institutional investor recently bought a new position in Electrovaya stock. Penbrook Management LLC purchased a new position in Electrovaya Inc. (NASDAQ:ELVA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 183,215 shares of the company's stock, valued at approximately $448,000. Penbrook Management LLC owned 0.46% of Electrovaya as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 22.47% of the company's stock.
Electrovaya Company Profile
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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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