Electra Battery Materials’ (ELBM) Buy Rating Reiterated at HC Wainwright

Electra Battery Materials (NASDAQ:ELBM)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They currently have a $1.40 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 185.66% from the company’s previous close.

Separately, Alliance Global Partners raised shares of Electra Battery Materials to a “strong-buy” rating in a report on Thursday, August 15th.

Electra Battery Materials Trading Down 12.3 %

Shares of Electra Battery Materials stock opened at $0.49 on Wednesday. The company has a 50-day moving average of $0.40 and a two-hundred day moving average of $0.46. The stock has a market cap of $27.37 million, a PE ratio of -0.52 and a beta of 2.56. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.07. Electra Battery Materials has a 12-month low of $0.26 and a 12-month high of $0.82.

Electra Battery Materials (NASDAQ:ELBM) last announced its quarterly earnings results on Tuesday, May 21st. The company reported ($0.16) earnings per share for the quarter.

Institutional Trading of Electra Battery Materials

A hedge fund recently bought a new stake in Electra Battery Materials stock. Cable Car Capital LLC purchased a new position in shares of Electra Battery Materials Co. (NASDAQ:ELBM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 122,637 shares of the company’s stock, valued at approximately $45,000. Cable Car Capital LLC owned approximately 0.35% of Electra Battery Materials at the end of the most recent reporting period. 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.