Electrovaya (NASDAQ:ELVA) Price Target Cut to $10.00 by Analysts at HC Wainwright

Electrovaya (NASDAQ:ELVA) had its target price decreased by stock analysts at HC Wainwright from $16.00 to $10.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 250.88% from the stock’s current price.

Separately, Alliance Global Partners initiated coverage on shares of Electrovaya in a report on Thursday, September 26th. They set a “buy” rating and a $5.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $7.25.

Electrovaya Stock Performance

NASDAQ ELVA opened at $2.85 on Friday. The business’s 50-day moving average price is $2.35 and its 200 day moving average price is $2.38. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. Electrovaya has a twelve month low of $1.67 and a twelve month high of $4.58. The company has a market capitalization of $97.30 million, a PE ratio of -285.00 and a beta of 1.91.

Electrovaya Company Profile

Electrovaya Inc engages in the design, development, manufacture, and sale of lithium-ion batteries, battery management systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications in North America. It offers lithium-ion batteries and systems for materials handling electric vehicles, including forklifts and automated guided vehicles, as well as battery chargers to charge the batteries; electromotive power products for electric trucks, electric buses, and other transportation applications; industrial products for energy storage; and power solutions, such as competencies in building systems for third parties.