HC Wainwright Brokers Increase Earnings Estimates for ELBM

Electra Battery Materials Co. (NASDAQ:ELBM) – Investment analysts at HC Wainwright boosted their FY2024 earnings per share (EPS) estimates for Electra Battery Materials in a research note issued on Tuesday, March 18th. HC Wainwright analyst H. Ihle now expects that the company will earn ($1.61) per share for the year, up from their previous forecast of ($1.72). HC Wainwright currently has a “Buy” rating and a $2.40 target price on the stock. The consensus estimate for Electra Battery Materials’ current full-year earnings is ($1.72) per share. HC Wainwright also issued estimates for Electra Battery Materials’ FY2025 earnings at ($0.81) EPS.

Electra Battery Materials Stock Performance

Shares of ELBM opened at $1.17 on Thursday. The stock has a market capitalization of $17.32 million, a P/E ratio of -0.33 and a beta of 2.46. Electra Battery Materials has a 12-month low of $1.04 and a 12-month high of $2.83. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.07 and a quick ratio of 0.07. The firm’s 50 day moving average is $1.55 and its 200-day moving average is $1.91.

Institutional Investors Weigh In On Electra Battery Materials

A hedge fund recently raised its stake in Electra Battery Materials stock. Scotia Capital Inc. increased its position in Electra Battery Materials Co. (NASDAQ:ELBM) by 53.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 66,766 shares of the company’s stock after purchasing an additional 23,290 shares during the period. Scotia Capital Inc. owned about 0.45% of Electra Battery Materials worth $30,000 at the end of the most recent reporting period. 32.90% of the stock is currently 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.