Electra Battery Materials (NASDAQ:ELBM) Releases Earnings Results

Electra Battery Materials (NASDAQ:ELBM) released its earnings results on Thursday. The company reported $0.12 earnings per share (EPS) for the quarter, Zacks reports.

Electra Battery Materials Trading Down 3.3%

Shares of NASDAQ ELBM traded down $0.02 during midday trading on Friday, reaching $0.60. 635,552 shares of the stock were exchanged, compared to its average volume of 1,289,734. The company has a 50 day simple moving average of $0.62 and a 200 day simple moving average of $0.83. The stock has a market capitalization of $62.17 million, a P/E ratio of -0.52 and a beta of 2.51. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.46 and a current ratio of 0.46. Electra Battery Materials has a twelve month low of $0.50 and a twelve month high of $8.70.

Institutional Trading of Electra Battery Materials

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in shares of Electra Battery Materials during the 4th quarter worth approximately $82,000. Aristides Capital LLC acquired a new stake in shares of Electra Battery Materials during the 4th quarter worth approximately $116,000. XTX Topco Ltd acquired a new stake in shares of Electra Battery Materials during the 4th quarter worth approximately $160,000. Cable Car Capital LP acquired a new stake in shares of Electra Battery Materials during the 2nd quarter worth approximately $223,000. Finally, PEAK6 LLC acquired a new stake in shares of Electra Battery Materials during the 4th quarter worth approximately $840,000. Institutional investors and hedge funds own 32.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Electra Battery Materials from a “strong sell” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.10.

About Electra Battery Materials

Electra Battery Materials Inc is a Canada-based battery materials company focused on the sourcing, refining and recycling of critical minerals used in lithium-ion batteries. The company’s core business activities include the development of hydrometallurgical processing facilities to convert raw feedstocks—such as mined ores, recycled battery black mass and industrial by-products—into battery-grade nickel, cobalt, lithium and other specialty materials. Electra’s business model centers on vertically integrated operations designed to secure supply chain resilience for North American and global electric vehicle (EV) and energy storage markets.

In 2022, Electra Battery Materials completed a business combination transaction and commenced trading on the NASDAQ under the ticker ELBM.