Electrovaya Inc. (NASDAQ:ELVA – Get Free Report) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 62,400 shares, a drop of 7.4% from the September 30th total of 67,400 shares. Based on an average daily volume of 26,300 shares, the short-interest ratio is currently 2.4 days. Approximately 0.3% of the shares of the stock are sold short.
Electrovaya Price Performance
Shares of NASDAQ:ELVA traded down $0.06 on Thursday, reaching $2.06. The company’s stock had a trading volume of 9,257 shares, compared to its average volume of 32,852. The company has a 50-day simple moving average of $2.17 and a 200 day simple moving average of $2.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 0.99. The company has a market cap of $69.80 million, a P/E ratio of -206.00 and a beta of 1.38. Electrovaya has a 52-week low of $1.67 and a 52-week high of $4.58.
Electrovaya (NASDAQ:ELVA – Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.06). The company had revenue of $10.27 million for the quarter, compared to the consensus estimate of $17.84 million. Electrovaya had a negative return on equity of 8.02% and a negative net margin of 1.34%. As a group, equities research analysts anticipate that Electrovaya will post -0.05 EPS for the current fiscal year.
Analysts Set New Price Targets
Check Out Our Latest Report on ELVA
About Electrovaya
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.
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