HC Wainwright Cuts Electra Battery Materials (NASDAQ:ELBM) Price Target to $2.20

Electra Battery Materials (NASDAQ:ELBM) had its price target lowered by HC Wainwright from $2.40 to $2.20 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Electra Battery Materials’ FY2025 earnings at ($1.07) EPS.

Electra Battery Materials Trading Down 3.7%

Shares of ELBM stock opened at $1.04 on Tuesday. Electra Battery Materials has a 52-week low of $0.91 and a 52-week high of $2.83. The stock has a market cap of $18.68 million, a price-to-earnings ratio of -0.70 and a beta of 2.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.06 and a current ratio of 0.06. The firm has a fifty day moving average of $1.06 and a 200-day moving average of $1.35.

Electra Battery Materials (NASDAQ:ELBM) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.50). On average, equities research analysts forecast that Electra Battery Materials will post -1.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Electra Battery Materials

An institutional investor recently raised its position in Electra Battery Materials stock. Scotia Capital Inc. increased its position in shares of Electra Battery Materials Corporation (NASDAQ:ELBM) by 53.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,766 shares of the company’s stock after purchasing an additional 23,290 shares during the quarter. Scotia Capital Inc. owned approximately 0.45% of Electra Battery Materials worth $30,000 at the end of the most recent quarter. 32.90% of the stock is currently owned by hedge funds and other institutional investors.

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.