FY2024 EPS Estimates for Electrovaya Inc. (NASDAQ:ELVA) Reduced by Seaport Res Ptn

Electrovaya Inc. (NASDAQ:ELVA) – Stock analysts at Seaport Res Ptn cut their FY2024 earnings per share estimates for Electrovaya in a report released on Thursday, September 19th. Seaport Res Ptn analyst J. Campbell now forecasts that the company will earn ($0.06) per share for the year, down from their previous estimate of ($0.05). The consensus estimate for Electrovaya’s current full-year earnings is ($0.04) per share. Seaport Res Ptn also issued estimates for Electrovaya’s FY2025 earnings at $0.03 EPS.

Electrovaya (NASDAQ:ELVA) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). The company had revenue of $10.27 million for the quarter, compared to the consensus estimate of $17.84 million. Electrovaya had a negative return on equity of 8.02% and a negative net margin of 1.34%.

Several other research analysts have also recently commented on the stock. Craig Hallum decreased their target price on shares of Electrovaya from $9.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Electrovaya in a report on Wednesday, August 14th.

Electrovaya Trading Up 0.9 %

ELVA stock opened at $2.25 on Monday. The firm’s 50-day simple moving average is $2.20 and its 200 day simple moving average is $2.81. Electrovaya has a fifty-two week low of $1.67 and a fifty-two week high of $4.58. The company has a quick ratio of 0.54, a current ratio of 0.99 and a debt-to-equity ratio of 0.26.

Electrovaya Company Profile

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.