HC Wainwright Cuts Electra Battery Materials (NASDAQ:ELBM) Price Target to $1.30

Electra Battery Materials (NASDAQ:ELBM) had its price target trimmed by HC Wainwright from $1.40 to $1.30 in a research note published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Alliance Global Partners raised Electra Battery Materials to a “strong-buy” rating in a research note on Thursday, August 15th.

Electra Battery Materials Stock Up 5.4 %

ELBM stock opened at $0.50 on Wednesday. The stock has a market capitalization of $27.78 million, a P/E ratio of -0.56 and a beta of 2.69. Electra Battery Materials has a 52 week low of $0.26 and a 52 week high of $0.75. The firm has a 50-day simple moving average of $0.56 and a 200-day simple moving average of $0.50. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.12.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Electra Battery Materials stock. Rathbones Group PLC acquired a new position in shares of Electra Battery Materials Co. (NASDAQ:ELBM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 100,687 shares of the company’s stock, valued at approximately $44,000. Rathbones Group PLC owned approximately 0.18% of Electra Battery Materials as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 32.90% of the company’s stock.

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.