NewGen Asset Management Ltd decreased its holdings in shares of Electra Battery Materials Co. (NASDAQ:ELBM – Free Report) by 55.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,435,696 shares of the company’s stock after selling 1,766,758 shares during the quarter. Electra Battery Materials accounts for approximately 0.3% of NewGen Asset Management Ltd’s holdings, making the stock its 20th biggest position. NewGen Asset Management Ltd owned approximately 4.04% of Electra Battery Materials worth $524,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Rathbones Group PLC purchased a new position in Electra Battery Materials in the third quarter valued at about $31,000. Kepos Capital LP purchased a new position in Electra Battery Materials in the third quarter valued at about $105,000. Finally, MMCAP International Inc. SPC purchased a new position in Electra Battery Materials in the third quarter valued at about $180,000. Hedge funds and other institutional investors own 32.90% of the company’s stock.
Electra Battery Materials Stock Performance
NASDAQ ELBM traded up $0.01 on Friday, reaching $0.47. The stock had a trading volume of 107,543 shares, compared to its average volume of 45,139. The business has a 50 day moving average price of $0.47 and a 200 day moving average price of $0.46. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.24 and a current ratio of 0.24. Electra Battery Materials Co. has a 1 year low of $0.31 and a 1 year high of $2.66.
Electra Battery Materials Profile
Electra Battery Materials Corporation engages in the acquisition and exploration of resource properties in the United States and Canada. It primarily explores for cobalt and silver deposits. The company's flagship project is the Iron Creek cobalt-copper project located in Lemhi County, Idaho. It also operates a cobalt refinery for producing battery materials for the electric vehicle supply chain.
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