Electra Battery Materials (NASDAQ:ELBM) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Electra Battery Materials (NASDAQ:ELBM) from a strong sell rating to a hold rating in a research note released on Saturday.

Electra Battery Materials Trading Down 3.3%

Shares of ELBM stock opened at $0.60 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.94. The stock has a market cap of $62.17 million, a P/E ratio of -0.52 and a beta of 2.51. The stock has a 50 day simple moving average of $0.62 and a 200 day simple moving average of $0.83. Electra Battery Materials has a 1 year low of $0.50 and a 1 year high of $8.70.

Electra Battery Materials (NASDAQ:ELBM) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.12 earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Electra Battery Materials

Several institutional investors and hedge funds have recently added to or reduced their stakes in ELBM. PEAK6 LLC bought a new stake in Electra Battery Materials during the fourth quarter worth $840,000. U S Global Investors Inc. bought a new stake in Electra Battery Materials during the fourth quarter worth $202,000. Cable Car Capital LP bought a new stake in Electra Battery Materials during the second quarter worth $223,000. XTX Topco Ltd bought a new stake in Electra Battery Materials during the fourth quarter worth $160,000. Finally, Aristides Capital LLC bought a new stake in Electra Battery Materials during the fourth quarter worth $116,000. 32.90% of the stock is currently owned by institutional investors.

Electra Battery Materials Company Profile

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.