Electra Battery Materials Co. (NASDAQ:ELBM) Short Interest Update

Electra Battery Materials Co. (NASDAQ:ELBM) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 63,300 shares, an increase of 174.0% from the February 13th total of 23,100 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 50,600 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Electra Battery Materials stock. Scotia Capital Inc. increased its position in shares of Electra Battery Materials Co. (NASDAQ:ELBM) by 53.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,766 shares of the company’s stock after acquiring an additional 23,290 shares during the period. Scotia Capital Inc. owned approximately 0.45% of Electra Battery Materials worth $30,000 at the end of the most recent quarter. 32.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, HC Wainwright decreased their price objective on shares of Electra Battery Materials from $5.60 to $5.20 and set a “buy” rating for the company in a report on Wednesday, November 27th.

Electra Battery Materials Stock Performance

Shares of NASDAQ ELBM traded up $0.01 during midday trading on Friday, reaching $1.43. 28,061 shares of the company traded hands, compared to its average volume of 43,862. Electra Battery Materials has a 52 week low of $1.04 and a 52 week high of $2.83. The stock has a 50-day moving average price of $1.58 and a 200 day moving average price of $1.95. 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 company has a market cap of $21.17 million, a price-to-earnings ratio of -0.40 and a beta of 2.46.

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.