Highbridge Capital Management LLC reduced its stake in Electra Battery Materials Co. (NASDAQ:ELBM – Free Report) by 63.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 276,039 shares of the company’s stock after selling 480,500 shares during the period. Highbridge Capital Management LLC owned approximately 0.49% of Electra Battery Materials worth $119,000 as of its most recent filing with the Securities and Exchange Commission.
Separately, Rathbones Group PLC bought a new stake in shares of Electra Battery Materials during the 2nd quarter valued at $44,000. 32.90% of the stock is owned by hedge funds and other institutional investors.
Electra Battery Materials Stock Performance
Shares of NASDAQ:ELBM opened at $0.66 on Thursday. Electra Battery Materials Co. has a 1 year low of $0.26 and a 1 year high of $0.75. The stock has a market capitalization of $36.81 million, a price-to-earnings ratio of -0.70 and a beta of 2.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.11 and a quick ratio of 0.11. The company’s 50 day simple moving average is $0.48 and its 200 day simple moving average is $0.47.
Analyst Ratings Changes
ELBM has been the topic of a number of recent analyst reports. Alliance Global Partners upgraded Electra Battery Materials to a “strong-buy” rating in a research report on Thursday, August 15th. HC Wainwright reiterated a “buy” rating and set a $1.40 price objective on shares of Electra Battery Materials in a research note on Wednesday, August 21st.
Get Our Latest Stock Analysis on Electra Battery Materials
About Electra Battery Materials
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.
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