71,172 Shares in Electrovaya Inc. $ELVA Bought by Calamos Advisors LLC

Calamos Advisors LLC acquired a new stake in Electrovaya Inc. (NASDAQ:ELVA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 71,172 shares of the company’s stock, valued at approximately $419,000. Calamos Advisors LLC owned 0.18% of Electrovaya as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Mink Brook Asset Management LLC boosted its holdings in shares of Electrovaya by 4.4% in the second quarter. Mink Brook Asset Management LLC now owns 395,101 shares of the company’s stock valued at $1,347,000 after acquiring an additional 16,713 shares in the last quarter. WealthTrust Axiom LLC raised its holdings in Electrovaya by 5.5% during the second quarter. WealthTrust Axiom LLC now owns 415,604 shares of the company’s stock worth $1,417,000 after purchasing an additional 21,525 shares in the last quarter. Herald Investment Management Ltd lifted its position in Electrovaya by 7.2% in the second quarter. Herald Investment Management Ltd now owns 1,265,000 shares of the company’s stock valued at $4,314,000 after purchasing an additional 85,000 shares during the period. AMH Equity Ltd boosted its holdings in Electrovaya by 100.0% in the 2nd quarter. AMH Equity Ltd now owns 200,000 shares of the company’s stock valued at $682,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Penbrook Management LLC increased its position in Electrovaya by 69.1% during the 2nd quarter. Penbrook Management LLC now owns 308,111 shares of the company’s stock worth $1,050,000 after purchasing an additional 125,896 shares during the period. Hedge funds and other institutional investors own 22.47% of the company’s stock.

Electrovaya Stock Up 2.1%

Electrovaya stock opened at $7.90 on Friday. Electrovaya Inc. has a fifty-two week low of $1.80 and a fifty-two week high of $7.99. The firm has a market capitalization of $375.33 million, a price-to-earnings ratio of 87.79 and a beta of 1.34. The stock’s fifty day moving average is $5.90 and its two-hundred day moving average is $5.41. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.93 and a current ratio of 4.16.

Electrovaya (NASDAQ:ELVA) last released its quarterly earnings data on Wednesday, December 10th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $20.51 million for the quarter, compared to analyst estimates of $20.26 million. Electrovaya had a net margin of 5.27% and a return on equity of 14.21%. Analysts predict that Electrovaya Inc. will post 0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on ELVA shares. Wall Street Zen cut Electrovaya from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. Oppenheimer started coverage on Electrovaya in a research report on Thursday, December 18th. They issued an “outperform” rating and a $14.00 price objective for the company. Raymond James Financial restated a “strong-buy” rating and set a $9.50 target price on shares of Electrovaya in a research report on Thursday, December 11th. Zacks Research upgraded shares of Electrovaya from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Finally, Roth Capital set a $7.00 price objective on shares of Electrovaya in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.10.

Electrovaya 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.