Electrovaya (NASDAQ:ELVA) Raised to “Buy” at Wall Street Zen

Electrovaya (NASDAQ:ELVA) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Separately, Zacks Research upgraded Electrovaya from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $6.13.

Electrovaya Stock Performance

Electrovaya stock opened at $7.00 on Friday. The company has a quick ratio of 2.88, a current ratio of 4.03 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $280.77 million, a P/E ratio of 233.41 and a beta of 1.59. The stock’s 50 day moving average is $5.13 and its 200 day moving average is $3.66. Electrovaya has a twelve month low of $1.73 and a twelve month high of $7.09.

Electrovaya (NASDAQ:ELVA) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $17.13 million during the quarter, compared to analysts’ expectations of $17.25 million. Electrovaya had a return on equity of 6.66% and a net margin of 2.19%. Electrovaya has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Electrovaya will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of Electrovaya

Institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new stake in Electrovaya in the fourth quarter worth about $64,000. AMH Equity Ltd bought a new stake in shares of Electrovaya during the first quarter valued at approximately $231,000. Penbrook Management LLC raised its stake in shares of Electrovaya by 69.1% during the second quarter. Penbrook Management LLC now owns 308,111 shares of the company’s stock valued at $1,050,000 after acquiring an additional 125,896 shares in the last quarter. Mink Brook Asset Management LLC raised its stake in shares of Electrovaya by 8.3% during the first quarter. Mink Brook Asset Management LLC now owns 378,388 shares of the company’s stock valued at $874,000 after acquiring an additional 28,935 shares in the last quarter. Finally, WealthTrust Axiom LLC raised its stake in shares of Electrovaya by 133.9% during the first quarter. WealthTrust Axiom LLC now owns 394,079 shares of the company’s stock valued at $910,000 after acquiring an additional 225,629 shares in the last quarter. Institutional investors own 22.47% of the company’s stock.

Electrovaya Company 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.