Electra Battery Materials Corporation (NASDAQ:ELBM) Short Interest Update

Electra Battery Materials Corporation (NASDAQ:ELBM) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 476,244 shares, a drop of 45.9% from the December 15th total of 881,051 shares. Based on an average daily trading volume, of 850,478 shares, the short-interest ratio is presently 0.6 days. Approximately 0.7% of the company’s stock are short sold. Approximately 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 850,478 shares, the short-interest ratio is presently 0.6 days.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ELBM. Weiss Ratings reissued a “sell (d-)” rating on shares of Electra Battery Materials in a research note on Monday, December 29th. Wall Street Zen upgraded Electra Battery Materials to a “sell” rating in a research note on Saturday, October 25th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $2.10 price objective on shares of Electra Battery Materials in a research report on Friday, November 28th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Electra Battery Materials currently has an average rating of “Hold” and a consensus target price of $2.10.

Electra Battery Materials Stock Up 3.1%

Shares of ELBM stock traded up $0.03 during mid-day trading on Friday, hitting $0.92. The company’s stock had a trading volume of 920,614 shares, compared to its average volume of 695,173. The stock has a market cap of $85.92 million, a price-to-earnings ratio of -0.72 and a beta of 2.58. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.05 and a current ratio of 0.05. Electra Battery Materials has a 52-week low of $0.77 and a 52-week high of $8.70. The business has a 50-day moving average price of $0.93 and a 200 day moving average price of $1.17.

Electra Battery Materials (NASDAQ:ELBM) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.04). Research analysts predict that Electra Battery Materials will post -1.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Electra Battery Materials stock. Rathbones Group PLC grew its position in shares of Electra Battery Materials Corporation (NASDAQ:ELBM) by 113.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,171 shares of the company’s stock after purchasing an additional 40,000 shares during the period. Rathbones Group PLC owned approximately 0.42% of Electra Battery Materials worth $81,000 at the end of the most recent reporting period. Institutional investors own 32.90% of the company’s stock.

Electra Battery Materials Company Profile

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.