Electra Battery Materials (NASDAQ:ELBM) Shares Up 3.5%

Shares of Electra Battery Materials Co. (NASDAQ:ELBM) shot up 3.5% on Wednesday . The stock traded as high as $0.44 and last traded at $0.44. 156,300 shares were traded during trading, an increase of 18% from the average session volume of 132,469 shares. The stock had previously closed at $0.43.

Analyst Ratings Changes

Separately, HC Wainwright reduced their price objective on Electra Battery Materials from $1.60 to $1.40 and set a “buy” rating for the company in a research note on Tuesday, May 28th.

Electra Battery Materials Trading Up 3.5 %

The company has a 50 day moving average of $0.45 and a 200 day moving average of $0.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a market capitalization of $24.79 million, a price-to-earnings ratio of -0.47 and a beta of 2.56.

Electra Battery Materials (NASDAQ:ELBM) last issued its earnings results on Tuesday, May 21st. The company reported ($0.16) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Electra Battery Materials

An institutional investor recently bought a new position in Electra Battery Materials stock. Cable Car Capital LLC purchased a new position in shares of Electra Battery Materials Co. (NASDAQ:ELBM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 122,637 shares of the company’s stock, valued at approximately $45,000. Cable Car Capital LLC owned 0.35% of Electra Battery Materials at the end of the most recent quarter. 32.90% of the stock is currently owned by institutional investors and hedge funds.

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.