Electra Battery Materials (NASDAQ:ELBM) Stock Price Down 1.1% – What’s Next?

Shares of Electra Battery Materials Corporation (NASDAQ:ELBM) were down 1.1% during trading on Friday . The company traded as low as $0.85 and last traded at $0.86. Approximately 71,132 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 127,095 shares. The stock had previously closed at $0.87.

Wall Street Analyst Weigh In

Separately, HC Wainwright dropped their price target on Electra Battery Materials from $2.40 to $2.20 and set a “buy” rating for the company in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $2.20.

Electra Battery Materials Price Performance

The business has a 50 day moving average of $1.10 and a 200 day moving average of $1.14. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market cap of $15.19 million, a PE ratio of -0.70 and a beta of 2.44.

Electra Battery Materials (NASDAQ:ELBM) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.11. As a group, research analysts predict that Electra Battery Materials Corporation will post -1.72 EPS for the current year.

Hedge Funds Weigh In On Electra Battery Materials

An institutional investor recently raised its position in Electra Battery Materials stock. Rathbones Group PLC boosted its position in Electra Battery Materials Corporation (NASDAQ:ELBM) by 113.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,171 shares of the company’s stock after purchasing an additional 40,000 shares during the quarter. Rathbones Group PLC owned approximately 0.42% of Electra Battery Materials worth $81,000 at the end of the most recent quarter. 32.90% of the stock is owned by institutional investors and hedge funds.

Electra Battery Materials Company Profile

Electra Battery Materials Corporation engages in the acquisition and exploration of resource properties in the United States and Canada. It primarily explores for cobalt and silver deposits. The company's flagship project is the Iron Creek cobalt-copper project located in Lemhi County, Idaho. It also operates a cobalt refinery for producing battery materials for the electric vehicle supply chain.