Electrovaya Inc. (NASDAQ:ELVA – Get Free Report) has earned an average rating of “Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have covered the stock in the last year is $8.75.
ELVA has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Electrovaya in a research report on Wednesday, August 14th. Craig Hallum reduced their price target on shares of Electrovaya from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Finally, Alliance Global Partners initiated coverage on shares of Electrovaya in a research report on Thursday, September 26th. They set a “buy” rating and a $5.00 target price on the stock.
Read Our Latest Stock Analysis on ELVA
Electrovaya Stock Performance
Electrovaya (NASDAQ:ELVA – Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). The company had revenue of $10.27 million for the quarter, compared to analyst estimates of $17.84 million. Electrovaya had a negative net margin of 1.34% and a negative return on equity of 8.02%. As a group, equities analysts forecast that Electrovaya will post -0.05 earnings per share for the current year.
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.
Further Reading
- Five stocks we like better than Electrovaya
- EV Stocks and How to Profit from Them
- Chinese Stocks Cool Off: Time to Buy the Dip in These 2 Stocks?
- What Are Dividend Challengers?
- Goldman Sachs Highlights 3 Top Short Squeeze Stocks to Watch
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Walmart is Up 56% YTD, Is it Still a Top Consumer Staples Stock?
Receive News & Ratings for Electrovaya Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electrovaya and related companies with MarketBeat.com's FREE daily email newsletter.