Electra Battery Materials (NASDAQ:ELBM) Trading Down 1.4% – Here’s Why

Electra Battery Materials Co. (NASDAQ:ELBM)’s stock price dropped 1.4% during mid-day trading on Monday . The stock traded as low as $1.44 and last traded at $1.46. Approximately 11,425 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 49,333 shares. The stock had previously closed at $1.48.

Analysts Set New Price Targets

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

Electra Battery Materials Price Performance

The firm has a market cap of $21.61 million, a P/E ratio of -0.41 and a beta of 2.58. The stock’s 50-day moving average is $1.70 and its 200-day moving average is $1.95. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.12.

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.