Electra Battery Materials (NASDAQ:ELBM) Given New $1.30 Price Target at HC Wainwright

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

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

Electra Battery Materials Stock Performance

Shares of ELBM stock opened at $0.47 on Wednesday. Electra Battery Materials has a 1-year low of $0.26 and a 1-year high of $0.75. The company has a market cap of $26.36 million, a price-to-earnings ratio of -0.53 and a beta of 2.69. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a 50 day simple moving average of $0.57 and a 200-day simple moving average of $0.50.

Hedge Funds Weigh In On Electra Battery Materials

An institutional investor recently bought a new position in Electra Battery Materials stock. Rathbones Group PLC acquired a new stake in Electra Battery Materials Co. (NASDAQ:ELBM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 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 quarter. Institutional investors own 32.90% of the company’s stock.

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.