Electrovaya (NASDAQ:ELVA) Given Buy Rating at Roth Mkm

Electrovaya (NASDAQ:ELVA)‘s stock had its “buy” rating reaffirmed by research analysts at Roth Mkm in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $5.00 target price on the stock, up from their previous target price of $4.00. Roth Mkm’s price target suggests a potential upside of 98.02% from the company’s current price.

Other analysts also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Electrovaya in a research note on Friday. Raymond James set a $4.50 price target on Electrovaya and gave the company a “strong-buy” rating in a report on Thursday, January 30th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $6.10.

Electrovaya Stock Up 3.5 %

NASDAQ:ELVA traded up $0.09 during mid-day trading on Friday, reaching $2.53. The stock had a trading volume of 127,241 shares, compared to its average volume of 81,681. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.03 and a quick ratio of 0.69. The stock has a market cap of $101.23 million, a P/E ratio of -84.17 and a beta of 1.84. The business’s 50 day moving average is $2.49 and its 200 day moving average is $2.32. Electrovaya has a fifty-two week low of $1.67 and a fifty-two week high of $4.24.

Electrovaya (NASDAQ:ELVA) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Electrovaya had a negative net margin of 3.33% and a negative return on equity of 18.87%. As a group, sell-side analysts predict that Electrovaya will post 0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in Electrovaya during the fourth quarter worth about $27,000. WealthTrust Axiom LLC raised its stake in Electrovaya by 181.2% during the fourth quarter. WealthTrust Axiom LLC now owns 168,450 shares of the company’s stock worth $418,000 after acquiring an additional 108,550 shares in the last quarter. Penbrook Management LLC bought a new stake in shares of Electrovaya in the 4th quarter worth about $448,000. Herald Investment Management Ltd increased its position in shares of Electrovaya by 372.0% during the 4th quarter. Herald Investment Management Ltd now owns 1,180,000 shares of the company’s stock worth $2,856,000 after purchasing an additional 930,000 shares in the last quarter. Finally, AIGH Capital Management LLC lifted its holdings in Electrovaya by 3.2% during the 4th quarter. AIGH Capital Management LLC now owns 2,525,099 shares of the company’s stock valued at $6,262,000 after purchasing an additional 77,473 shares during the last quarter. 22.47% of the stock is owned by institutional investors.

Electrovaya Company Profile

Electrovaya Inc engages in the design, development, manufacture, and sale of lithium-ion batteries, battery management systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications in North America. It offers lithium-ion batteries and systems for materials handling electric vehicles, including forklifts and automated guided vehicles, as well as battery chargers to charge the batteries; electromotive power products for electric trucks, electric buses, and other transportation applications; industrial products for energy storage; and power solutions, such as competencies in building systems for third parties.