HC Wainwright Issues Pessimistic Forecast for Electra Battery Materials (NASDAQ:ELBM) Stock Price

Electra Battery Materials (NASDAQ:ELBM) had its target price dropped by investment analysts at HC Wainwright from $2.20 to $2.10 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 141.38% from the company’s current price.

Several other brokerages also recently commented on ELBM. Weiss Ratings reissued a “sell (e+)” rating on shares of Electra Battery Materials in a research note on Tuesday, November 11th. Wall Street Zen raised shares of Electra Battery Materials to a “sell” rating in a research report on Saturday, October 25th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Electra Battery Materials presently has an average rating of “Hold” and an average price target of $2.10.

Electra Battery Materials Stock Performance

ELBM opened at $0.87 on Tuesday. Electra Battery Materials has a 1-year low of $0.77 and a 1-year high of $8.70. The company has a market cap of $15.63 million, a price-to-earnings ratio of -0.69 and a beta of 2.53. The company’s fifty day moving average price is $1.47 and its two-hundred day moving average price is $1.21. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.12.

Electra Battery Materials (NASDAQ:ELBM) last posted its earnings results on Thursday, November 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). On average, analysts expect that Electra Battery Materials will post -1.72 EPS for the current fiscal year.

Institutional Trading of Electra Battery Materials

A hedge fund recently raised its stake in Electra Battery Materials stock. Rathbones Group PLC grew its stake in shares of Electra Battery Materials Corporation (NASDAQ:ELBM) by 113.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 75,171 shares of the company’s stock after acquiring an additional 40,000 shares during the period. Rathbones Group PLC owned about 0.42% of Electra Battery Materials worth $81,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 32.90% of the company’s stock.

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.