Electra Battery Materials (NASDAQ:ELBM) Announces Quarterly Earnings Results

Electra Battery Materials (NASDAQ:ELBM) released its quarterly earnings data on Thursday. The company reported $0.12 earnings per share (EPS) for the quarter, Zacks reports.

Electra Battery Materials Stock Up 0.4%

Shares of ELBM stock traded up $0.00 on Thursday, hitting $0.62. The stock had a trading volume of 605,864 shares, compared to its average volume of 1,316,435. The firm has a market capitalization of $64.32 million, a price-to-earnings ratio of -0.33 and a beta of 2.51. The stock’s 50 day moving average is $0.62 and its 200-day moving average is $0.83. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.46 and a current ratio of 0.46. Electra Battery Materials has a 52-week low of $0.50 and a 52-week high of $8.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ELBM. Cable Car Capital LP purchased a new position in Electra Battery Materials in the second quarter valued at about $223,000. Aristides Capital LLC purchased a new position in shares of Electra Battery Materials during the 4th quarter valued at approximately $116,000. Jane Street Group LLC purchased a new position in shares of Electra Battery Materials during the 4th quarter valued at approximately $82,000. PEAK6 LLC purchased a new position in shares of Electra Battery Materials during the 4th quarter valued at approximately $840,000. Finally, XTX Topco Ltd purchased a new position in shares of Electra Battery Materials during the 4th quarter valued at approximately $160,000. 32.90% of the stock is currently owned by hedge funds and other institutional investors.

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.