Electrovaya (ELVA) Set to Announce Earnings on Tuesday

Electrovaya (NASDAQ:ELVA) will release its earnings data after the market closes on Tuesday, August 13th. Analysts expect Electrovaya to post earnings of $0.05 per share for the quarter. Electrovaya has set its FY 2024 guidance at EPS.

Electrovaya (NASDAQ:ELVA) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). Electrovaya had a negative return on equity of 2.83% and a negative net margin of 0.44%. The firm had revenue of $10.70 million for the quarter, compared to analyst estimates of $16.42 million. On average, analysts expect Electrovaya to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Electrovaya Stock Down 6.8 %

NASDAQ ELVA traded down $0.15 during mid-day trading on Tuesday, reaching $2.07. 23,007 shares of the stock were exchanged, compared to its average volume of 38,410. Electrovaya has a 1 year low of $2.00 and a 1 year high of $4.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.58 and a current ratio of 0.99. The business’s 50 day moving average is $2.63 and its 200-day moving average is $3.24.

Analyst Ratings Changes

ELVA has been the subject of a number of recent analyst reports. Craig Hallum cut their price target on shares of Electrovaya from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Roth Mkm reiterated a “buy” rating and set a $8.00 price target on shares of Electrovaya in a report on Wednesday, May 15th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Electrovaya in a research report on Friday, June 14th.

About Electrovaya

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.