Electra Battery Materials (NASDAQ:ELBM) Earns Buy Rating from HC Wainwright

Electra Battery Materials (NASDAQ:ELBM)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $2.40 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 72.66% from the stock’s current price.

Electra Battery Materials Trading Down 2.8 %

Shares of Electra Battery Materials stock opened at $1.39 on Tuesday. Electra Battery Materials has a 52-week low of $1.04 and a 52-week high of $2.83. 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 firm has a market capitalization of $20.58 million, a PE ratio of -0.39 and a beta of 2.46. The company’s fifty day moving average price is $1.58 and its two-hundred day moving average price is $1.93.

Institutional Trading of Electra Battery Materials

An institutional investor recently raised its position in Electra Battery Materials stock. Scotia Capital Inc. raised its stake in shares of Electra Battery Materials Co. (NASDAQ:ELBM) by 53.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,766 shares of the company’s stock after acquiring 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 filing with the SEC. Institutional investors own 32.90% of the company’s stock.

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.