Alyeska Investment Group L.P. Takes Position in Electrovaya Inc. (NASDAQ:ELVA)

Alyeska Investment Group L.P. bought a new position in shares of Electrovaya Inc. (NASDAQ:ELVA) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 175,535 shares of the company’s stock, valued at approximately $435,000.

Several other institutional investors also recently bought and sold shares of ELVA. XTX Topco Ltd acquired a new position in Electrovaya during the 4th quarter worth $27,000. WealthTrust Axiom LLC boosted its stake in shares of Electrovaya by 181.2% in the 4th quarter. WealthTrust Axiom LLC now owns 168,450 shares of the company’s stock valued at $418,000 after buying an additional 108,550 shares during the period. Manatuck Hill Partners LLC acquired a new position in shares of Electrovaya during the fourth quarter worth about $434,000. Penbrook Management LLC purchased a new stake in shares of Electrovaya during the fourth quarter worth approximately $448,000. Finally, Herald Investment Management Ltd raised its holdings in Electrovaya by 372.0% in the fourth quarter. Herald Investment Management Ltd now owns 1,180,000 shares of the company’s stock valued at $2,856,000 after acquiring an additional 930,000 shares in the last quarter. 22.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on ELVA shares. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Electrovaya in a research report on Friday, February 14th. Raymond James set a $4.50 price objective on Electrovaya and gave the stock a “strong-buy” rating in a research report on Thursday, January 30th. Finally, Roth Mkm reissued a “buy” rating and set a $5.00 target price (up previously from $4.00) on shares of Electrovaya in a research report on Friday, February 14th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Electrovaya presently has a consensus rating of “Buy” and an average price target of $6.10.

Electrovaya Stock Performance

Shares of ELVA stock opened at $2.75 on Wednesday. The stock’s 50-day moving average is $2.48 and its two-hundred day moving average is $2.44. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.69 and a current ratio of 1.55. Electrovaya Inc. has a 1 year low of $1.67 and a 1 year high of $3.54. The firm has a market cap of $110.29 million, a price-to-earnings ratio of -68.75 and a beta of 1.22.

Electrovaya (NASDAQ:ELVA) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. Electrovaya had a negative return on equity of 15.42% and a negative net margin of 3.88%. Analysts predict that Electrovaya Inc. will post 0.1 earnings per share for the current year.

Electrovaya Profile

Electrovaya Inc engages in the design, development, manufacture, and sale of lithium-ion batteries, battery management systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications in North America. It offers lithium-ion batteries and systems for materials handling electric vehicles, including forklifts and automated guided vehicles, as well as battery chargers to charge the batteries; electromotive power products for electric trucks, electric buses, and other transportation applications; industrial products for energy storage; and power solutions, such as competencies in building systems for third parties.