Electra Battery Materials (NASDAQ:ELBM) Given New $2.10 Price Target at HC Wainwright

Electra Battery Materials (NASDAQ:ELBM) had its target price lowered by HC Wainwright from $2.20 to $2.10 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Electra Battery Materials to a “sell” rating in a research report on Saturday, October 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Electra Battery Materials in a report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.10.

Electra Battery Materials Stock Performance

Shares of Electra Battery Materials stock opened at $0.90 on Tuesday. The stock has a market cap of $16.16 million, a price-to-earnings ratio of -0.71 and a beta of 2.53. The firm’s 50-day moving average is $1.47 and its 200 day moving average is $1.21. Electra Battery Materials has a 1 year low of $0.77 and a 1 year high of $8.70. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.05.

Electra Battery Materials (NASDAQ:ELBM) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Sell-side analysts anticipate that Electra Battery Materials will post -1.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Electra Battery Materials

A hedge fund recently raised its stake in Electra Battery Materials stock. Rathbones Group PLC grew its holdings in shares of Electra Battery Materials Corporation (NASDAQ:ELBM) by 113.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,171 shares of the company’s stock after purchasing an additional 40,000 shares during the quarter. Rathbones Group PLC owned approximately 0.42% of Electra Battery Materials worth $81,000 as of its most recent filing with the Securities & Exchange Commission. 32.90% of the stock is 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.