Electra Battery Materials (NASDAQ:ELBM) Price Target Cut to $1.30 by Analysts at HC Wainwright

Electra Battery Materials (NASDAQ:ELBM) had its price objective decreased by HC Wainwright from $1.40 to $1.30 in a research report sent to investors on Wednesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

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 Price Performance

ELBM opened at $0.47 on Wednesday. Electra Battery Materials has a 12-month low of $0.26 and a 12-month high of $0.75. The business’s fifty day simple moving average is $0.57 and its 200-day simple moving average is $0.50. The company has a market capitalization of $26.36 million, a price-to-earnings ratio of -0.53 and a beta of 2.69. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Electra Battery Materials

An institutional investor recently bought a new position in Electra Battery Materials stock. Rathbones Group PLC purchased a new position in shares of Electra Battery Materials Co. (NASDAQ:ELBM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 100,687 shares of the company’s stock, valued at approximately $44,000. Rathbones Group PLC owned about 0.18% of Electra Battery Materials at the end of the most recent quarter. 32.90% of the stock is currently owned by hedge funds and other institutional investors.

About Electra Battery Materials

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.