HC Wainwright Has Lowered Expectations for Electra Battery Materials (NASDAQ:ELBM) Stock Price

Electra Battery Materials (NASDAQ:ELBM) had its price target cut by equities researchers at HC Wainwright from $1.40 to $1.30 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 175.42% from the stock’s current price.

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

Electra Battery Materials Stock Performance

NASDAQ ELBM opened at $0.47 on Wednesday. The firm has a market capitalization of $26.36 million, a P/E ratio of -0.53 and a beta of 2.69. The stock has a 50-day simple moving average of $0.56 and a two-hundred day simple moving average of $0.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.07 and a current ratio of 0.07. Electra Battery Materials has a fifty-two week low of $0.26 and a fifty-two week high of $0.75.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Electra Battery Materials stock. Rathbones Group PLC purchased 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 institutional investor purchased 100,687 shares of the company’s stock, valued at approximately $44,000. Rathbones Group PLC owned approximately 0.18% of Electra Battery Materials at the end of the most recent quarter. 32.90% of the stock is currently owned by hedge funds and other institutional investors.

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.