AMH Equity Ltd Acquires 100,000 Shares of Electrovaya Inc. $ELVA

AMH Equity Ltd grew its holdings in shares of Electrovaya Inc. (NASDAQ:ELVA) by 100.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,000 shares of the company’s stock after acquiring an additional 100,000 shares during the period. AMH Equity Ltd’s holdings in Electrovaya were worth $682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. WealthTrust Axiom LLC grew its stake in shares of Electrovaya by 133.9% during the 1st quarter. WealthTrust Axiom LLC now owns 394,079 shares of the company’s stock valued at $910,000 after acquiring an additional 225,629 shares during the period. Herald Investment Management Ltd grew its stake in shares of Electrovaya by 7.2% during the 2nd quarter. Herald Investment Management Ltd now owns 1,265,000 shares of the company’s stock valued at $4,314,000 after acquiring an additional 85,000 shares during the period. Penbrook Management LLC grew its stake in shares of Electrovaya by 69.1% during the 2nd quarter. Penbrook Management LLC now owns 308,111 shares of the company’s stock valued at $1,050,000 after acquiring an additional 125,896 shares during the period. Finally, Mink Brook Asset Management LLC grew its stake in shares of Electrovaya by 8.3% during the 1st quarter. Mink Brook Asset Management LLC now owns 378,388 shares of the company’s stock valued at $874,000 after acquiring an additional 28,935 shares during the period. Institutional investors own 22.47% of the company’s stock.

Electrovaya Trading Down 0.5%

ELVA stock opened at $6.46 on Friday. Electrovaya Inc. has a 1-year low of $1.73 and a 1-year high of $7.72. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.03 and a quick ratio of 2.88. The company has a market capitalization of $259.09 million, a price-to-earnings ratio of 215.41 and a beta of 1.54. The business has a 50 day simple moving average of $6.32 and a two-hundred day simple moving average of $4.50.

Electrovaya (NASDAQ:ELVA) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $17.13 million during the quarter, compared to the consensus estimate of $17.25 million. Electrovaya had a net margin of 2.19% and a return on equity of 6.66%. Electrovaya has set its FY 2025 guidance at EPS. Research analysts anticipate that Electrovaya Inc. will post 0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ELVA. Zacks Research downgraded Electrovaya from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Wall Street Zen downgraded Electrovaya from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Electrovaya in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Electrovaya presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.50.

Electrovaya Company Profile

Electrovaya Inc engages in the design, development, manufacture, and sale of lithium-ion batteries, battery management systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications in North America. It offers lithium-ion batteries and systems for materials handling electric vehicles, including forklifts and automated guided vehicles, as well as battery chargers to charge the batteries; electromotive power products for electric trucks, electric buses, and other transportation applications; industrial products for energy storage; and power solutions, such as competencies in building systems for third parties.