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

Electra Battery Materials Co. (NASDAQ:ELBM) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 53,500 shares, a decline of 15.5% from the February 28th total of 63,300 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average trading volume of 136,700 shares, the days-to-cover ratio is presently 0.4 days.

Electra Battery Materials Stock Down 1.9 %

Shares of NASDAQ ELBM traded down $0.02 during midday trading on Wednesday, hitting $1.01. The stock had a trading volume of 76,723 shares, compared to its average volume of 67,270. The business’s 50 day moving average is $1.48 and its 200-day moving average is $1.83. Electra Battery Materials has a 52 week low of $1.01 and a 52 week high of $2.83. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.12. The company has a market cap of $14.95 million, a P/E ratio of -0.28 and a beta of 2.46.

Electra Battery Materials (NASDAQ:ELBM) last released its quarterly earnings data on Friday, March 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.73) by $4.29. As a group, analysts predict that Electra Battery Materials will post -1.72 EPS for the current year.

Institutional Investors Weigh In On Electra Battery Materials

A hedge fund recently raised its stake in Electra Battery Materials stock. Scotia Capital Inc. raised its stake in shares of Electra Battery Materials Co. (NASDAQ:ELBM) by 53.6% during the 4th quarter, according to its most recent filing with the SEC. 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 32.90% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $2.40 price target on shares of Electra Battery Materials in a report on Tuesday, March 18th.

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.