FY2027 EPS Estimates for Electrovaya Decreased by Analyst

Electrovaya Inc. (NASDAQ:ELVA) – Stock analysts at HC Wainwright cut their FY2027 earnings estimates for shares of Electrovaya in a research note issued to investors on Friday, May 15th. HC Wainwright analyst A. Dayal now expects that the company will earn $0.15 per share for the year, down from their prior forecast of $0.29. HC Wainwright currently has a “Buy” rating and a $15.00 target price on the stock. The consensus estimate for Electrovaya’s current full-year earnings is $0.14 per share. HC Wainwright also issued estimates for Electrovaya’s FY2028 earnings at $0.42 EPS.

Electrovaya (NASDAQ:ELVA) last released its earnings results on Thursday, May 14th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Electrovaya had a return on equity of 13.21% and a net margin of 7.03%.The company had revenue of $18.05 million during the quarter, compared to the consensus estimate of $17.74 million.

A number of other research firms have also weighed in on ELVA. Weiss Ratings reissued a “hold (c)” rating on shares of Electrovaya in a research note on Friday, March 27th. Roth Mkm reiterated a “buy” rating and set a $12.00 price target on shares of Electrovaya in a report on Friday. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Electrovaya in a research report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Electrovaya currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.63.

Electrovaya Price Performance

ELVA opened at $9.77 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.02 and a quick ratio of 4.69. The stock’s 50 day simple moving average is $8.83 and its 200 day simple moving average is $7.91. The firm has a market cap of $483.71 million, a price-to-earnings ratio of 81.42, a PEG ratio of 1.26 and a beta of 1.44. Electrovaya has a 1 year low of $2.98 and a 1 year high of $11.88.

Institutional Investors Weigh In On Electrovaya

A number of large investors have recently made changes to their positions in the business. Polar Asset Management Partners Inc. increased its stake in shares of Electrovaya by 145.5% during the fourth quarter. Polar Asset Management Partners Inc. now owns 1,174,800 shares of the company’s stock valued at $9,281,000 after buying an additional 696,320 shares during the period. Thompson Siegel & Walmsley LLC purchased a new stake in Electrovaya in the fourth quarter worth $4,976,000. Bank of America Corp DE boosted its holdings in Electrovaya by 76,081.0% in the third quarter. Bank of America Corp DE now owns 304,724 shares of the company’s stock valued at $1,795,000 after acquiring an additional 304,324 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in Electrovaya in the third quarter valued at $1,677,000. Finally, Conestoga Capital Advisors LLC purchased a new position in Electrovaya during the 4th quarter valued at $2,080,000. 22.47% of the stock is currently owned by institutional investors.

About Electrovaya

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.