Electra Battery Materials (NASDAQ:ELBM) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Electra Battery Materials (NASDAQ:ELBM) in a report released on Thursday,Benzinga reports. HC Wainwright currently has a $2.20 price target on the stock.

Electra Battery Materials Price Performance

Shares of NASDAQ:ELBM opened at $1.06 on Thursday. Electra Battery Materials has a one year low of $0.77 and a one year high of $2.60. The stock has a market capitalization of $18.75 million, a price-to-earnings ratio of -0.86 and a beta of 2.44. The company has a 50-day simple moving average of $1.05 and a 200-day simple moving average of $1.08. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.05 and a current ratio of 0.05.

Electra Battery Materials (NASDAQ:ELBM) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.11. On average, analysts predict that Electra Battery Materials will post -1.72 EPS for the current year.

Institutional Investors Weigh In On Electra Battery Materials

An institutional investor recently bought a new position in Electra Battery Materials stock. Cable Car Capital LP acquired a new stake in Electra Battery Materials Corporation (NASDAQ:ELBM) during the second quarter, according to its most recent filing with the SEC. The firm acquired 207,860 shares of the company’s stock, valued at approximately $223,000. Cable Car Capital LP owned about 1.18% of Electra Battery Materials at the end of the most recent reporting period. Institutional investors and hedge funds own 32.90% of the company’s stock.

About Electra Battery Materials

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.