Electra Battery Materials Co. (NASDAQ:ELBM) Short Interest Update

Electra Battery Materials Co. (NASDAQ:ELBM) was the target of a large drop in short interest in December. As of December 15th, there was short interest totalling 124,100 shares, a drop of 5.1% from the November 30th total of 130,800 shares. Based on an average daily volume of 62,100 shares, the short-interest ratio is currently 2.0 days. Approximately 0.2% of the shares of the stock are short sold.

Electra Battery Materials Stock Down 16.6 %

ELBM opened at $0.46 on Thursday. The business’s fifty day simple moving average is $1.93 and its 200 day simple moving average is $1.98. Electra Battery Materials has a 52 week low of $0.26 and a 52 week high of $0.75. The firm has a market cap of $25.89 million, a P/E ratio of -0.52 and a beta of 2.61. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.12.

Analysts Set New Price Targets

Separately, HC Wainwright reduced their target price on Electra Battery Materials from $5.60 to $5.20 and set a “buy” rating on the stock in a research note on Wednesday, November 27th.

Institutional Investors Weigh In On Electra Battery Materials

A hedge fund recently bought a new stake in Electra Battery Materials stock. Rathbones Group PLC acquired a new position in shares of Electra Battery Materials Co. (NASDAQ:ELBM) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 100,687 shares of the company’s stock, valued at approximately $44,000. Rathbones Group PLC owned 0.18% of Electra Battery Materials at the end of the most recent reporting period. 32.90% of the stock is currently owned by institutional investors and hedge funds.

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.