HC Wainwright Has Lowered Expectations for Electra Battery Materials (NASDAQ:ELBM) Stock Price

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

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

Electra Battery Materials Trading Up 5.3 %

Shares of NASDAQ:ELBM opened at $0.50 on Wednesday. The company has a market capitalization of $27.76 million, a PE ratio of -0.56 and a beta of 2.69. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.12. Electra Battery Materials has a 12-month low of $0.26 and a 12-month high of $0.75. The business’s fifty day simple moving average is $0.56 and its 200-day simple moving average is $0.50.

Hedge Funds Weigh In On Electra Battery Materials

A hedge fund recently bought a new stake in Electra Battery Materials stock. Rathbones Group PLC bought a new position in shares of Electra Battery Materials Co. (NASDAQ:ELBM) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 100,687 shares of the company’s stock, valued at approximately $44,000. Rathbones Group PLC owned about 0.18% of Electra Battery Materials at the end of the most recent reporting period. 32.90% of the stock is currently owned by hedge funds and other institutional investors.

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.