PEAK6 LLC Acquires New Holdings in Electra Battery Materials Corporation $ELBM

PEAK6 LLC bought a new stake in Electra Battery Materials Corporation (NASDAQ:ELBM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,249,080 shares of the company’s stock, valued at approximately $754,000. PEAK6 LLC owned approximately 1.17% of Electra Battery Materials at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rathbones Group PLC increased its holdings in shares of Electra Battery Materials by 149.7% during the first quarter. Rathbones Group PLC now owns 250,171 shares of the company’s stock worth $145,000 after buying an additional 150,000 shares in the last quarter. Ground Swell Capital LLC bought a new stake in Electra Battery Materials during the 1st quarter worth $27,000. Aristides Capital LLC bought a new stake in Electra Battery Materials during the 4th quarter worth $116,000. XTX Topco Ltd acquired a new position in Electra Battery Materials in the 4th quarter worth about $160,000. Finally, Jane Street Group LLC acquired a new position in Electra Battery Materials in the 4th quarter worth about $82,000. Institutional investors own 32.90% of the company’s stock.

Electra Battery Materials Stock Performance

NASDAQ ELBM opened at $0.63 on Monday. The company has a market capitalization of $67.24 million, a price-to-earnings ratio of -0.58 and a beta of 2.53. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.48. Electra Battery Materials Corporation has a twelve month low of $0.49 and a twelve month high of $8.70. The stock has a fifty day simple moving average of $0.56 and a 200 day simple moving average of $0.63.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ELBM. Weiss Ratings raised Electra Battery Materials from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 18th. HC Wainwright reaffirmed a “buy” rating and issued a $2.00 price objective (down from $2.10) on shares of Electra Battery Materials in a research note on Friday. Raymond James Financial reiterated a “buy” rating on shares of Electra Battery Materials in a report on Friday, May 22nd. Wall Street Zen upgraded shares of Electra Battery Materials from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Zacks Research raised shares of Electra Battery Materials to a “hold” rating in a report on Thursday, May 21st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2.00.

About Electra Battery Materials

Electra Battery Materials Inc is a Canada-based battery materials company focused on the sourcing, refining and recycling of critical minerals used in lithium-ion batteries. The company’s core business activities include the development of hydrometallurgical processing facilities to convert raw feedstocks—such as mined ores, recycled battery black mass and industrial by-products—into battery-grade nickel, cobalt, lithium and other specialty materials. Electra’s business model centers on vertically integrated operations designed to secure supply chain resilience for North American and global electric vehicle (EV) and energy storage markets.

In 2022, Electra Battery Materials completed a business combination transaction and commenced trading on the NASDAQ under the ticker ELBM.