HC Wainwright Lowers Electra Battery Materials (NASDAQ:ELBM) Price Target to $1.30

Electra Battery Materials (NASDAQ:ELBM) had its price target cut by HC Wainwright from $1.40 to $1.30 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

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

Electra Battery Materials Stock Up 5.4 %

Shares of NASDAQ ELBM opened at $0.50 on Wednesday. The company has a market capitalization of $27.78 million, a P/E ratio of -0.56 and a beta of 2.69. 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 50 day simple moving average of $0.56 and a 200-day simple moving average of $0.50. Electra Battery Materials has a 1 year low of $0.26 and a 1 year high of $0.75.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Electra Battery Materials stock. Rathbones Group PLC acquired a new position in Electra Battery Materials Co. (NASDAQ:ELBM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 100,687 shares of the company’s stock, valued at approximately $44,000. Rathbones Group PLC owned about 0.18% of Electra Battery Materials as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 32.90% of the company’s stock.

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.