Electrovaya (NASDAQ:ELVA) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Electrovaya (NASDAQ:ELVA) from a buy rating to a hold rating in a research report report published on Sunday morning.

Separately, Zacks Research upgraded Electrovaya from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $6.50.

Electrovaya Stock Down 4.1%

ELVA stock opened at $5.89 on Friday. The company has a market cap of $236.23 million, a price-to-earnings ratio of 196.40 and a beta of 1.58. The company has a fifty day moving average price of $5.52 and a 200 day moving average price of $3.88. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.03 and a quick ratio of 2.88. Electrovaya has a 12 month low of $1.73 and a 12 month high of $7.49.

Electrovaya (NASDAQ:ELVA) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). Electrovaya had a return on equity of 6.66% and a net margin of 2.19%.The business had revenue of $17.13 million for the quarter, compared to analysts’ expectations of $17.25 million. Electrovaya has set its FY 2025 guidance at EPS. Sell-side analysts expect that Electrovaya will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On Electrovaya

Institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new position in Electrovaya during the 4th quarter worth approximately $64,000. AMH Equity Ltd purchased a new stake in shares of Electrovaya in the first quarter valued at approximately $231,000. Mink Brook Asset Management LLC grew its holdings in Electrovaya by 8.3% during the first quarter. Mink Brook Asset Management LLC now owns 378,388 shares of the company’s stock worth $874,000 after acquiring an additional 28,935 shares during the period. WealthTrust Axiom LLC raised its position in Electrovaya by 133.9% in the first quarter. WealthTrust Axiom LLC now owns 394,079 shares of the company’s stock worth $910,000 after acquiring an additional 225,629 shares in the last quarter. Finally, Penbrook Management LLC lifted its holdings in Electrovaya by 69.1% in the second quarter. Penbrook Management LLC now owns 308,111 shares of the company’s stock valued at $1,050,000 after acquiring an additional 125,896 shares during the period. Hedge funds and other institutional investors own 22.47% of the company’s stock.

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.