Electra Battery Materials (NASDAQ:ELBM) Upgraded at Wall Street Zen

Electra Battery Materials (NASDAQ:ELBM) was upgraded by Wall Street Zen to a “sell” rating in a research note issued on Saturday.

ELBM has been the topic of several other reports. HC Wainwright reiterated a “buy” rating and set a $2.20 price target on shares of Electra Battery Materials in a report on Thursday, September 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Electra Battery Materials in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Electra Battery Materials presently has an average rating of “Hold” and a consensus target price of $2.20.

Electra Battery Materials Stock Down 14.0%

Shares of NASDAQ ELBM opened at $1.48 on Friday. The firm’s 50-day moving average price is $1.40 and its 200-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. The stock has a market capitalization of $26.18 million, a price-to-earnings ratio of -1.20 and a beta of 2.53. Electra Battery Materials has a 12-month low of $0.77 and a 12-month high of $8.70.

Electra Battery Materials (NASDAQ:ELBM) last announced its earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.11. On average, equities research analysts anticipate that Electra Battery Materials will post -1.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Electra Battery Materials

A hedge fund recently raised its stake in Electra Battery Materials stock. Rathbones Group PLC grew its stake in Electra Battery Materials Corporation (NASDAQ:ELBM) by 113.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,171 shares of the company’s stock after acquiring an additional 40,000 shares during the period. Rathbones Group PLC owned 0.42% of Electra Battery Materials worth $81,000 at the end of the most recent reporting period. 32.90% of the stock is owned by institutional investors.

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.