Electra Battery Materials (NASDAQ:ELBM) Stock Price Down 2.5% – Time to Sell?

Electra Battery Materials Co. (NASDAQ:ELBM) traded down 2.5% during mid-day trading on Wednesday . The company traded as low as $0.39 and last traded at $0.40. 100,276 shares changed hands during trading, a decline of 44% from the average session volume of 178,489 shares. The stock had previously closed at $0.41.

Analyst Ratings Changes

Separately, HC Wainwright lowered their target price on shares of Electra Battery Materials from $1.40 to $1.30 and set a “buy” rating for the company in a report on Wednesday, November 27th.

Electra Battery Materials Stock Down 2.5 %

The firm has a 50 day moving average price of $0.51 and a two-hundred day moving average price of $0.50. The firm has a market capitalization of $22.22 million, a price-to-earnings ratio of -0.45 and a beta of 2.61. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On Electra Battery Materials

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