Electra Battery Materials (NASDAQ:ELBM) Upgraded to Hold at Zacks Research

Electra Battery Materials (NASDAQ:ELBM) was upgraded by stock analysts at Zacks Research to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

ELBM has been the subject of a number of other reports. Wall Street Zen upgraded shares of Electra Battery Materials from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. HC Wainwright restated a “buy” rating and set a $2.00 target price on shares of Electra Battery Materials in a report on Friday. Finally, Raymond James Financial restated a “buy” rating on shares of Electra Battery Materials in a report on Friday. 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, the stock presently has an average rating of “Hold” and a consensus target price of $2.00.

Electra Battery Materials Trading Up 0.5%

Shares of NASDAQ:ELBM opened at $0.61 on Thursday. The stock has a market capitalization of $64.56 million, a price-to-earnings ratio of -0.53 and a beta of 2.51. Electra Battery Materials has a 1-year low of $0.50 and a 1-year high of $8.70. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.75 and a current ratio of 0.75. The company has a 50 day moving average price of $0.61 and a 200 day moving average price of $0.80.

Electra Battery Materials (NASDAQ:ELBM) last issued its earnings results on Thursday, May 14th. The company reported $0.12 earnings per share for the quarter. On average, research analysts anticipate that Electra Battery Materials will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Electra Battery Materials

A number of institutional investors have recently modified their holdings of the stock. Ground Swell Capital LLC acquired a new stake in shares of Electra Battery Materials during the 1st quarter valued at $27,000. Aristides Capital LLC acquired a new stake in shares of Electra Battery Materials during the 4th quarter valued at $116,000. XTX Topco Ltd acquired a new stake in shares of Electra Battery Materials during the 4th quarter valued at $160,000. PEAK6 LLC acquired a new stake in shares of Electra Battery Materials during the 4th quarter valued at $840,000. Finally, Jane Street Group LLC acquired a new stake in shares of Electra Battery Materials during the 4th quarter valued at $82,000. Institutional investors and hedge funds 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.