Electrovaya (NASDAQ:ELVA) Now Covered by Raymond James

Equities researchers at Raymond James initiated coverage on shares of Electrovaya (NASDAQ:ELVA) in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The firm set a “strong-buy” rating and a $4.50 price target on the stock. Raymond James’ price objective would indicate a potential upside of 78.57% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. HC Wainwright cut their price target on Electrovaya from $16.00 to $10.00 and set a “buy” rating for the company in a report on Friday, December 13th. Alliance Global Partners started coverage on shares of Electrovaya in a report on Thursday, September 26th. They issued a “buy” rating and a $5.00 target price for the company. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $6.70.

Electrovaya Stock Up 0.8 %

ELVA opened at $2.52 on Thursday. The company has a market capitalization of $101.03 million, a PE ratio of -84.00 and a beta of 1.84. The firm has a 50-day simple moving average of $2.49 and a two-hundred day simple moving average of $2.31. The company has a quick ratio of 0.69, a current ratio of 1.03 and a debt-to-equity ratio of 0.22. Electrovaya has a 52 week low of $1.67 and a 52 week high of $4.35.

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.