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

Electra Battery Materials (NASDAQ:ELBM) had its price target lowered by stock analysts at HC Wainwright from $1.40 to $1.30 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 173.17% from the stock’s previous close.

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

Electra Battery Materials Stock Down 4.8 %

Shares of NASDAQ ELBM opened at $0.48 on Wednesday. The company has a market capitalization of $26.58 million, a P/E ratio of -0.53 and a beta of 2.69. Electra Battery Materials has a 52-week low of $0.26 and a 52-week high of $0.75. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.07 and a current ratio of 0.07. The company’s 50 day moving average price is $0.57 and its 200-day moving average price is $0.50.

Institutional Trading of Electra Battery Materials

A hedge fund recently bought a new stake in Electra Battery Materials stock. Rathbones Group PLC purchased a new stake in shares of Electra Battery Materials Co. (NASDAQ:ELBM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 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. 32.90% of the stock is owned by 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.