HC Wainwright Cuts Electrovaya (NASDAQ:ELVA) Price Target to $10.00

Electrovaya (NASDAQ:ELVA) had its target price reduced by HC Wainwright from $16.00 to $10.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Electrovaya’s Q1 2025 earnings at $0.00 EPS, Q2 2025 earnings at $0.02 EPS, Q3 2025 earnings at $0.03 EPS, Q4 2025 earnings at $0.06 EPS and FY2029 earnings at $1.00 EPS.

Separately, Alliance Global Partners began coverage on shares of Electrovaya in a report on Thursday, September 26th. They issued a “buy” rating and a $5.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Electrovaya has an average rating of “Buy” and a consensus target price of $7.25.

Electrovaya Price Performance

Shares of ELVA opened at $2.58 on Friday. The firm has a market capitalization of $88.08 million, a PE ratio of -258.00 and a beta of 1.91. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.99 and a quick ratio of 0.54. The company’s 50-day moving average is $2.35 and its 200-day moving average is $2.37. Electrovaya has a fifty-two week low of $1.67 and a fifty-two week high of $4.58.

About Electrovaya

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.