Electrovaya Inc. $ELVA Shares Sold by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. lessened its stake in shares of Electrovaya Inc. (NASDAQ:ELVA) by 92.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,566 shares of the company’s stock after selling 255,210 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Electrovaya were worth $141,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ELVA. Farther Finance Advisors LLC increased its stake in shares of Electrovaya by 1,631.6% in the third quarter. Farther Finance Advisors LLC now owns 4,000 shares of the company’s stock worth $26,000 after buying an additional 3,769 shares during the period. Squarepoint Ops LLC bought a new stake in Electrovaya during the 2nd quarter valued at $146,000. Lazard Asset Management LLC boosted its position in Electrovaya by 188.9% during the 1st quarter. Lazard Asset Management LLC now owns 249,429 shares of the company’s stock valued at $1,951,000 after buying an additional 163,082 shares during the period. Granahan Investment Management LLC boosted its position in Electrovaya by 2.7% during the 1st quarter. Granahan Investment Management LLC now owns 200,195 shares of the company’s stock valued at $1,566,000 after buying an additional 5,234 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Electrovaya by 18.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 57,908 shares of the company’s stock valued at $451,000 after buying an additional 8,983 shares during the period. Institutional investors own 22.47% of the company’s stock.

Electrovaya Trading Down 5.4%

Shares of ELVA stock traded down $0.29 during trading hours on Friday, reaching $5.07. The company’s stock had a trading volume of 451,998 shares, compared to its average volume of 393,843. The company has a current ratio of 7.53, a quick ratio of 5.72 and a debt-to-equity ratio of 0.60. Electrovaya Inc. has a one year low of $4.10 and a one year high of $12.78. The stock has a market capitalization of $253.50 million, a P/E ratio of 46.10, a P/E/G ratio of 0.42 and a beta of 1.64. The firm’s fifty day simple moving average is $6.59 and its 200 day simple moving average is $8.56.

Electrovaya (NASDAQ:ELVA) last announced its earnings results on Monday, August 10th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The business had revenue of $17.71 million for the quarter, compared to the consensus estimate of $21.44 million. Electrovaya had a net margin of 6.14% and a return on equity of 7.96%. Equities research analysts expect that Electrovaya Inc. will post 0.06 EPS for the current year.

Analysts Set New Price Targets

ELVA has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Electrovaya from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Oppenheimer lowered their price objective on shares of Electrovaya from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Wednesday, August 12th. Weiss Ratings lowered shares of Electrovaya from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Raymond James Financial reiterated a “strong-buy” rating on shares of Electrovaya in a report on Thursday, July 16th. Finally, Roth Capital reissued a “buy” rating on shares of Electrovaya in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.50.

Electrovaya Company Profile

Electrovaya Inc is a Canadian battery technology company that develops and manufactures lithium-ion batteries, battery systems and related energy-storage solutions. Its technologies are designed to provide high energy density, long cycle life and enhanced safety for applications that require reliable rechargeable power.

The company’s products serve markets including electric material-handling equipment, such as industrial forklifts, as well as electric mobility, transportation and stationary energy storage.