Electrovaya FY2027 EPS Estimate Reduced by HC Wainwright

Electrovaya Inc. (NASDAQ:ELVA) – Equities research analysts at HC Wainwright cut their FY2027 earnings estimates for shares of Electrovaya in a research report issued to clients and investors on Wednesday, August 12th. HC Wainwright analyst A. Dayal now anticipates that the company will post earnings per share of $0.09 for the year, down from their prior forecast of $0.15. HC Wainwright has a “Buy” rating and a $15.00 price objective on the stock. The consensus estimate for Electrovaya’s current full-year earnings is $0.11 per share. HC Wainwright also issued estimates for Electrovaya’s FY2030 earnings at $1.04 EPS.

Electrovaya (NASDAQ:ELVA) last released its quarterly earnings data on Monday, August 10th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). Electrovaya had a net margin of 6.14% and a return on equity of 8.58%. The company had revenue of $17.71 million for the quarter, compared to the consensus estimate of $21.44 million.

Several other analysts have also recently commented on the stock. Raymond James Financial reiterated a “strong-buy” rating on shares of Electrovaya in a research note on Thursday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Electrovaya in a research report on Wednesday, June 24th. Oppenheimer reduced their target price on Electrovaya from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Roth Capital reiterated a “buy” rating on shares of Electrovaya in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.50.

Electrovaya Price Performance

Shares of NASDAQ:ELVA opened at $7.59 on Friday. The firm has a market cap of $375.78 million, a price-to-earnings ratio of 69.01, a P/E/G ratio of 1.22 and a beta of 1.69. The firm has a fifty day moving average price of $9.31 and a 200 day moving average price of $9.20. Electrovaya has a fifty-two week low of $4.10 and a fifty-two week high of $12.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 5.93 and a current ratio of 7.66.

Hedge Funds Weigh In On Electrovaya

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Polar Asset Management Partners Inc. increased its holdings in shares of Electrovaya by 145.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 1,174,800 shares of the company’s stock worth $9,281,000 after buying an additional 696,320 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Electrovaya in the 4th quarter valued at about $4,976,000. WealthTrust Axiom LLC grew its position in Electrovaya by 23.1% in the fourth quarter. WealthTrust Axiom LLC now owns 505,854 shares of the company’s stock worth $3,996,000 after acquiring an additional 94,950 shares in the last quarter. Mink Brook Asset Management LLC grew its position in Electrovaya by 4.4% in the second quarter. Mink Brook Asset Management LLC now owns 395,101 shares of the company’s stock worth $1,347,000 after acquiring an additional 16,713 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Electrovaya by 76,081.0% during the third quarter. Bank of America Corp DE now owns 304,724 shares of the company’s stock worth $1,795,000 after acquiring an additional 304,324 shares during the last quarter. 22.47% of the stock is owned by hedge funds and other institutional investors.

Electrovaya Company Profile

Electrovaya is a Canada-based energy storage company that designs and manufactures advanced lithium-ion battery systems and components. The company’s core business revolves around the development of proprietary electrode and cell technologies that deliver high energy density, rapid charge capability and enhanced safety features. Electrovaya’s product portfolio encompasses large-format battery cells, modules, complete battery packs and integrated energy storage systems tailored to industrial, commercial and utility-scale applications.

In the industrial sector, Electrovaya supplies modular battery systems for material-handling equipment such as electric forklifts, automated guided vehicles and airport ground support vehicles.