Short Interest in Electra Battery Materials Co. (NASDAQ:ELBM) Expands By 174.0%

Electra Battery Materials Co. (NASDAQ:ELBM) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 63,300 shares, a growth of 174.0% from the February 13th total of 23,100 shares. Based on an average daily volume of 50,600 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.4% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, HC Wainwright decreased their price objective on Electra Battery Materials from $5.60 to $5.20 and set a “buy” rating on the stock in a report on Wednesday, November 27th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Electra Battery Materials stock. Scotia Capital Inc. boosted its position in Electra Battery Materials Co. (NASDAQ:ELBM) by 53.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,766 shares of the company’s stock after acquiring an additional 23,290 shares during the quarter. Scotia Capital Inc. owned 0.45% of Electra Battery Materials worth $30,000 as of its most recent filing with the Securities and Exchange Commission. 32.90% of the stock is owned by institutional investors and hedge funds.

Electra Battery Materials Trading Up 0.7 %

Electra Battery Materials stock traded up $0.01 during midday trading on Friday, reaching $1.43. The stock had a trading volume of 28,061 shares, compared to its average volume of 43,836. Electra Battery Materials has a twelve month low of $1.04 and a twelve month high of $2.83. The stock has a market capitalization of $21.17 million, a PE ratio of -0.40 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. The stock’s 50-day simple moving average is $1.59 and its 200 day simple moving average is $1.95.

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.