Elevra Lithium (NASDAQ:ELVR) Shares Gap Up – Here’s What Happened

Elevra Lithium Limited – Sponsored ADR (NASDAQ:ELVR)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $24.62, but opened at $27.75. Elevra Lithium shares last traded at $27.8980, with a volume of 17,721 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Elevra Lithium from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, August 31st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Elevra Lithium has an average rating of “Hold”.

Elevra Lithium Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 3.44 and a quick ratio of 2.95. The firm’s 50 day moving average price is $36.69 and its two-hundred day moving average price is $58.59.

Elevra Lithium (NASDAQ:ELVR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($194.78) EPS for the quarter. The business had revenue of $57.72 million for the quarter.

Insider Buying and Selling at Elevra Lithium

In other news, COO Sylvain Collard sold 32,651 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $2.15, for a total transaction of $70,199.65. Following the transaction, the chief operating officer owned 102,911 shares of the company’s stock, valued at $221,258.65. This represents a 24.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Trading of Elevra Lithium

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its stake in Elevra Lithium by 70.6% during the 1st quarter. Hsbc Holdings PLC now owns 51,604 shares of the company’s stock worth $3,045,000 after buying an additional 21,363 shares during the period. Baader Bank Aktiengesellschaft bought a new position in Elevra Lithium in the first quarter worth approximately $220,000. Main Street Group LTD acquired a new stake in Elevra Lithium in the first quarter valued at approximately $27,000. GAMMA Investing LLC grew its stake in Elevra Lithium by 16.5% in the second quarter. GAMMA Investing LLC now owns 1,159 shares of the company’s stock valued at $79,000 after acquiring an additional 164 shares during the period. Finally, GK Wealth Management LLC acquired a new stake in Elevra Lithium in the third quarter valued at approximately $25,000.

About Elevra Lithium

Elevra Lithium is a lithium mining and development company with operations and projects in Canada and the United States. Its activities include producing spodumene concentrate and advancing lithium resources intended to support battery-material supply chains. In Quebec, the company’s assets include the North American Lithium operation and the Moblan project. In the United States, it holds the Carolina Lithium project in North Carolina. Elevra was formed through the combination of Sayona Mining and Piedmont Lithium, bringing together their North American lithium assets.