Electra Battery Materials (NASDAQ:ELBM) Announces Quarterly Earnings Results

Electra Battery Materials (NASDAQ:ELBM) announced its quarterly earnings data on Thursday. The company reported $0.12 earnings per share (EPS) for the quarter, Zacks reports.

Electra Battery Materials Stock Down 3.0%

Electra Battery Materials stock traded down $0.02 during mid-day trading on Friday, hitting $0.60. The company’s stock had a trading volume of 481,204 shares, compared to its average volume of 1,072,505. The firm’s 50 day moving average is $0.62 and its 200 day moving average is $0.83. The company has a market cap of $62.35 million, a PE ratio of -0.32 and a beta of 2.51. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.46 and a quick ratio of 0.46. Electra Battery Materials has a 52-week low of $0.50 and a 52-week high of $8.70.

Institutional Investors Weigh In On Electra Battery Materials

A number of hedge funds and other institutional investors have recently made changes to their positions in ELBM. Cable Car Capital LP purchased a new stake in shares of Electra Battery Materials during the 2nd quarter worth about $223,000. Aristides Capital LLC purchased a new stake in shares of Electra Battery Materials during the 4th quarter worth about $116,000. Jane Street Group LLC purchased a new stake in shares of Electra Battery Materials during the 4th quarter worth about $82,000. PEAK6 LLC purchased a new stake in shares of Electra Battery Materials during the 4th quarter worth about $840,000. Finally, XTX Topco Ltd purchased a new stake in shares of Electra Battery Materials during the 4th quarter worth about $160,000. 32.90% of the stock is owned by hedge funds and other institutional investors.

About Electra Battery Materials

Electra Battery Materials Inc is a Canada-based battery materials company focused on the sourcing, refining and recycling of critical minerals used in lithium-ion batteries. The company’s core business activities include the development of hydrometallurgical processing facilities to convert raw feedstocks—such as mined ores, recycled battery black mass and industrial by-products—into battery-grade nickel, cobalt, lithium and other specialty materials. Electra’s business model centers on vertically integrated operations designed to secure supply chain resilience for North American and global electric vehicle (EV) and energy storage markets.

In 2022, Electra Battery Materials completed a business combination transaction and commenced trading on the NASDAQ under the ticker ELBM.