Electra Battery Materials (NASDAQ:ELBM) Shares Down 2.5% – What’s Next?

Electra Battery Materials Co. (NASDAQ:ELBM)’s stock price traded down 2.5% during trading on Wednesday . The company traded as low as $0.39 and last traded at $0.40. 100,276 shares were traded during trading, a decline of 44% from the average session volume of 178,489 shares. The stock had previously closed at $0.41.

Analyst Ratings Changes

Separately, HC Wainwright lowered their price target on Electra Battery Materials from $1.40 to $1.30 and set a “buy” rating for the company in a report on Wednesday, November 27th.

Electra Battery Materials Stock Performance

The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average is $0.51 and its two-hundred day moving average is $0.50. The stock has a market capitalization of $22.22 million, a P/E ratio of -0.45 and a beta of 2.61.

Hedge Funds Weigh In On Electra Battery Materials

A hedge fund recently bought a new stake in Electra Battery Materials stock. Rathbones Group PLC bought a new position in Electra Battery Materials Co. (NASDAQ:ELBM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 100,687 shares of the company’s stock, valued at approximately $44,000. Rathbones Group PLC owned about 0.18% of Electra Battery Materials as of its most recent SEC filing. Hedge funds and other institutional investors own 32.90% of the company’s stock.

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.