Electra Battery Materials (NASDAQ:ELBM) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Electra Battery Materials (NASDAQ:ELBM) in a research note published on Tuesday,Benzinga reports. They currently have a $2.40 price target on the stock.

Electra Battery Materials Stock Performance

NASDAQ ELBM opened at $1.36 on Tuesday. The stock’s fifty day moving average is $1.57 and its two-hundred day moving average is $1.92. The firm has a market capitalization of $20.13 million, a P/E ratio of -0.38 and a beta of 2.46. 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 $1.04 and a fifty-two week high of $2.83.

Hedge Funds Weigh In On Electra Battery Materials

An institutional investor recently raised its position in Electra Battery Materials stock. Scotia Capital Inc. grew its holdings in Electra Battery Materials Co. (NASDAQ:ELBM) by 53.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,766 shares of the company’s stock after purchasing an additional 23,290 shares during the period. Scotia Capital Inc. owned approximately 0.45% of Electra Battery Materials worth $30,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors 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.