WealthTrust Axiom LLC boosted its stake in Electrovaya Inc. (NASDAQ:ELVA - Free Report) by 181.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,450 shares of the company's stock after acquiring an additional 108,550 shares during the quarter. WealthTrust Axiom LLC owned 0.42% of Electrovaya worth $418,000 as of its most recent SEC filing.
Separately, Penbrook Management LLC bought a new stake in Electrovaya in the 4th quarter valued at approximately $448,000. 22.47% of the stock is owned by institutional investors.
Electrovaya Stock Performance
Shares of ELVA remained flat at $2.52 during mid-day trading on Friday. The stock had a trading volume of 16,741 shares, compared to its average volume of 51,223. The company has a current ratio of 1.55, a quick ratio of 0.69 and a debt-to-equity ratio of 0.08. The business's fifty day moving average price is $2.42 and its 200-day moving average price is $2.41. Electrovaya Inc. has a 52 week low of $1.67 and a 52 week high of $3.54. The stock has a market cap of $101.07 million, a PE ratio of -63.00 and a beta of 1.33.
Electrovaya (NASDAQ:ELVA - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. Electrovaya had a negative return on equity of 15.42% and a negative net margin of 3.88%. Research analysts anticipate that Electrovaya Inc. will post 0.1 EPS for the current year.
Wall Street Analysts Forecast Growth
ELVA has been the topic of a number of research reports. Roth Mkm reissued a "buy" rating and issued a $5.00 price objective (up previously from $4.00) on shares of Electrovaya in a research report on Friday, February 14th. HC Wainwright reaffirmed a "buy" rating and issued a $10.00 target price on shares of Electrovaya in a research report on Friday, February 14th. Finally, Raymond James set a $4.50 price target on Electrovaya and gave the company a "strong-buy" rating in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Electrovaya has an average rating of "Buy" and an average price target of $6.10.
Read Our Latest Stock Analysis on ELVA
About Electrovaya
(
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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