HC Wainwright Has Bullish Estimate for ELBM FY2024 Earnings

Electra Battery Materials Co. (NASDAQ:ELBM) – Investment analysts at HC Wainwright lifted their FY2024 EPS estimates for shares of Electra Battery Materials in a report released on Tuesday, March 18th. HC Wainwright analyst H. Ihle now forecasts that the company will post earnings per share of ($1.61) for the year, up from their previous estimate of ($1.72). HC Wainwright has a “Buy” rating and a $2.40 price objective on the stock. The consensus estimate for Electra Battery Materials’ current full-year earnings is ($1.72) per share. HC Wainwright also issued estimates for Electra Battery Materials’ FY2025 earnings at ($0.81) EPS.

Electra Battery Materials Trading Up 5.1 %

ELBM opened at $1.23 on Thursday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $18.21 million, a PE ratio of -0.35 and a beta of 2.46. Electra Battery Materials has a 1-year low of $1.04 and a 1-year high of $2.83. The firm has a 50-day moving average price of $1.54 and a two-hundred day moving average price of $1.90.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Electra Battery Materials stock. Scotia Capital Inc. grew its holdings in Electra Battery Materials Co. (NASDAQ:ELBM) by 53.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,766 shares of the company’s stock after purchasing an additional 23,290 shares during the quarter. Scotia Capital Inc. owned approximately 0.45% of Electra Battery Materials worth $30,000 at the end of the most recent reporting period. 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.