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

Electra Battery Materials Co. (NASDAQ:ELBM) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 53,500 shares, a decrease of 15.5% from the February 28th total of 63,300 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 136,700 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Electra Battery Materials stock. Scotia Capital Inc. lifted its holdings in Electra Battery Materials Co. (NASDAQ:ELBM) by 53.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,766 shares of the company’s stock after buying an additional 23,290 shares during the quarter. 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.

Electra Battery Materials Trading Down 1.9 %

Electra Battery Materials stock traded down $0.02 during mid-day trading on Wednesday, reaching $1.01. 76,723 shares of the company traded hands, compared to its average volume of 67,270. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.07 and a quick ratio of 0.07. Electra Battery Materials has a 52-week low of $1.01 and a 52-week high of $2.83. The firm has a market capitalization of $14.95 million, a price-to-earnings ratio of -0.28 and a beta of 2.46. The firm’s 50 day moving average price is $1.48 and its 200 day moving average price is $1.83.

Electra Battery Materials (NASDAQ:ELBM) last announced its quarterly earnings results 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. On average, analysts anticipate that Electra Battery Materials will post -1.72 earnings per share for the current fiscal year.

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.