Electra Battery Materials Co. (NASDAQ:ELBM) Short Interest Update

Electra Battery Materials Co. (NASDAQ:ELBM) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 124,100 shares, a decrease of 5.1% from the November 30th total of 130,800 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 62,100 shares, the short-interest ratio is currently 2.0 days.

Electra Battery Materials Price Performance

Shares of NASDAQ:ELBM opened at $0.56 on Tuesday. The business has a fifty day moving average price of $0.48 and a 200-day moving average price of $0.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.07 and a quick ratio of 0.07. The company has a market capitalization of $31.06 million, a PE ratio of -0.62 and a beta of 2.61. Electra Battery Materials has a 1-year low of $0.26 and a 1-year high of $0.75.

Shares of Electra Battery Materials are scheduled to reverse split on Thursday, January 2nd. The 1-4 reverse split was announced on Monday, December 30th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, December 31st.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Electra Battery Materials stock. Rathbones Group PLC bought a new stake in shares of Electra Battery Materials Co. (NASDAQ:ELBM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 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 and Exchange Commission (SEC). Institutional investors own 32.90% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright lowered their price objective on Electra Battery Materials from $1.40 to $1.30 and set a “buy” rating for the company in a research report on Wednesday, November 27th.

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.