Electra Battery Materials (NASDAQ:ELBM) Announces Earnings Results

Electra Battery Materials (NASDAQ:ELBM) issued its earnings results on Thursday. The company reported ($0.20) earnings per share for the quarter, Zacks reports.

Electra Battery Materials Stock Performance

ELBM stock traded down $0.02 during trading on Friday, hitting $0.94. 1,351,756 shares of the company traded hands, compared to its average volume of 2,635,451. Electra Battery Materials has a 1 year low of $0.77 and a 1 year high of $8.70. The company has a market cap of $16.88 million, a PE ratio of -0.76 and a beta of 2.53. The stock’s 50-day simple moving average is $1.46 and its 200 day simple moving average is $1.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.05 and a quick ratio of 0.05.

Institutional Investors Weigh In On Electra Battery Materials

An institutional investor recently bought a new position in Electra Battery Materials stock. Cable Car Capital LP purchased a new stake in Electra Battery Materials Corporation (NASDAQ:ELBM) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 207,860 shares of the company’s stock, valued at approximately $223,000. Cable Car Capital LP owned 1.18% of Electra Battery Materials as of its most recent filing with the SEC. Institutional investors own 32.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Electra Battery Materials in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $2.20 target price on shares of Electra Battery Materials in a research report on Thursday, September 25th. Finally, Wall Street Zen raised shares of Electra Battery Materials to a “sell” rating in a research note on Saturday, October 25th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2.20.

Electra Battery Materials Company 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.