Electrovaya (NASDAQ:ELVA) Issues Earnings Results

Electrovaya (NASDAQ:ELVA) released its quarterly earnings results on Thursday. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02, Zacks reports. Electrovaya had a return on equity of 14.21% and a net margin of 5.27%.

Here are the key takeaways from Electrovaya’s conference call:

• Electrovaya reported a strong Q1 FY2026 with $15.5M revenue (+39% YoY), 32.9% gross margin, ~$2M adjusted EBITDA and ~$1M net income — the fourth consecutive profitable quarter.
• The company strengthened its balance sheet via a $28M equity raise, $22.7M cash on hand and EXIM financing (drawn $16.4M of $50M), and has begun Jamestown facility upgrades with cell production targeted late FY2026/early FY2027 (no cell revenue expected in FY2026).
• Commercial traction is accelerating across verticals — OEM high‑voltage battery deliveries are scheduled to begin in March 2026, modular 48V robotics deliveries started in January, and defense engagements expanded to a second application with defense expected to be a meaningful revenue contributor this year.
• R&D pipeline advancing — an ultra‑fast Infinity cell targeting ~5‑minute charge/discharge and 800‑volt DC energy storage systems are targeted for commercialization in 2027, solid‑state cell scale‑up begins in April, and a new head of energy storage was hired.
• Testing of airport ground support equipment with a major U.S. airline is taking longer than initially expected, which could delay larger-scale orders and near-term revenue from that product line.

Electrovaya Stock Performance

Shares of NASDAQ:ELVA traded down $0.56 on Thursday, reaching $8.75. 541,296 shares of the company’s stock were exchanged, compared to its average volume of 710,393. The business’s 50-day moving average is $8.46 and its two-hundred day moving average is $6.64. The company has a quick ratio of 2.93, a current ratio of 4.16 and a debt-to-equity ratio of 0.71. Electrovaya has a fifty-two week low of $1.80 and a fifty-two week high of $11.88. The firm has a market capitalization of $419.65 million, a price-to-earnings ratio of 97.23 and a beta of 1.36.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ELVA. Oppenheimer began coverage on Electrovaya in a research report on Thursday, December 18th. They issued an “outperform” rating and a $14.00 target price for the company. Roth Mkm set a $7.00 price objective on shares of Electrovaya in a report on Thursday, December 11th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $9.50 target price on shares of Electrovaya in a research note on Thursday, December 11th. Zacks Research raised shares of Electrovaya from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Electrovaya in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Electrovaya has a consensus rating of “Moderate Buy” and a consensus price target of $10.13.

Hedge Funds Weigh In On Electrovaya

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its holdings in shares of Electrovaya by 76,081.0% in the 3rd quarter. Bank of America Corp DE now owns 304,724 shares of the company’s stock worth $1,795,000 after purchasing an additional 304,324 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Electrovaya in the third quarter valued at $887,000. First Trust Advisors LP bought a new stake in Electrovaya in the third quarter valued at $468,000. Lazard Asset Management LLC acquired a new position in shares of Electrovaya during the third quarter valued at $461,000. Finally, Raymond James Financial Inc. grew its position in shares of Electrovaya by 5,575.3% during the third quarter. Raymond James Financial Inc. now owns 67,536 shares of the company’s stock worth $398,000 after acquiring an additional 66,346 shares during the last quarter. 22.47% of the stock is owned by institutional investors.

Electrovaya Company Profile

Electrovaya is a Canada-based energy storage company that designs and manufactures advanced lithium-ion battery systems and components. The company’s core business revolves around the development of proprietary electrode and cell technologies that deliver high energy density, rapid charge capability and enhanced safety features. Electrovaya’s product portfolio encompasses large-format battery cells, modules, complete battery packs and integrated energy storage systems tailored to industrial, commercial and utility-scale applications.

In the industrial sector, Electrovaya supplies modular battery systems for material-handling equipment such as electric forklifts, automated guided vehicles and airport ground support vehicles.