Thompson Siegel & Walmsley LLC Purchases New Position in Electrovaya Inc. $ELVA

Thompson Siegel & Walmsley LLC purchased a new stake in Electrovaya Inc. (NASDAQ:ELVA) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 629,873 shares of the company’s stock, valued at approximately $4,976,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Solstein Capital LLC acquired a new position in Electrovaya in the third quarter valued at approximately $29,000. Allworth Financial LP lifted its holdings in shares of Electrovaya by 4,900.0% in the 4th quarter. Allworth Financial LP now owns 4,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,920 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Electrovaya by 737.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 9,085 shares of the company’s stock valued at $72,000 after purchasing an additional 8,000 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Electrovaya in the 3rd quarter valued at about $74,000. Finally, Millennium Management LLC purchased a new stake in shares of Electrovaya in the 3rd quarter valued at about $95,000. 22.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ELVA has been the subject of several research reports. Roth Mkm reissued a “buy” rating and issued a $12.00 target price on shares of Electrovaya in a report on Friday, May 15th. HC Wainwright boosted their target price on Electrovaya from $10.00 to $15.00 and gave the company a “buy” rating in a report on Friday, May 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Electrovaya in a report on Friday, March 27th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Electrovaya in a report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Electrovaya presently has an average rating of “Moderate Buy” and a consensus target price of $12.63.

Electrovaya Stock Performance

Shares of ELVA stock opened at $11.33 on Tuesday. The stock has a market capitalization of $560.91 million, a PE ratio of 94.42, a price-to-earnings-growth ratio of 1.52 and a beta of 1.44. Electrovaya Inc. has a 52-week low of $2.98 and a 52-week high of $11.89. The stock’s 50-day moving average price is $9.41 and its 200 day moving average price is $8.27. The company has a quick ratio of 5.93, a current ratio of 7.66 and a debt-to-equity ratio of 0.54.

Electrovaya (NASDAQ:ELVA) last issued its earnings results on Thursday, May 14th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $18.05 million during the quarter, compared to the consensus estimate of $17.74 million. Electrovaya had a return on equity of 11.35% and a net margin of 7.03%. As a group, equities research analysts forecast that Electrovaya Inc. will post 0.14 EPS for the current year.

Electrovaya Profile

Electrovaya is a Canada-based energy storage company that designs and manufactures advanced lithium-ion battery systems and components. The company’s core business revolves around the development of proprietary electrode and cell technologies that deliver high energy density, rapid charge capability and enhanced safety features. Electrovaya’s product portfolio encompasses large-format battery cells, modules, complete battery packs and integrated energy storage systems tailored to industrial, commercial and utility-scale applications.

In the industrial sector, Electrovaya supplies modular battery systems for material-handling equipment such as electric forklifts, automated guided vehicles and airport ground support vehicles.