Electrovaya (NASDAQ:ELVA) PT Set at $4.50 by Raymond James

Raymond James set a $4.50 price target on Electrovaya (NASDAQ:ELVA) in a research note published on Thursday,BayStreet.CA reports. The brokerage currently has a strong-buy rating on the stock. Raymond James also issued estimates for Electrovaya’s FY2025 earnings at $0.05 EPS, FY2026 earnings at $0.17 EPS and FY2027 earnings at $0.28 EPS.

Separately, HC Wainwright reduced their price objective on shares of Electrovaya from $16.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $6.70.

Electrovaya Trading Down 0.8 %

Shares of NASDAQ:ELVA opened at $2.58 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.69 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $2.53 and a two-hundred day moving average price of $2.32. Electrovaya has a twelve month low of $1.67 and a twelve month high of $4.35.

Institutional Trading of Electrovaya

An institutional investor recently bought a new position in Electrovaya stock. Penbrook Management LLC bought a new position in Electrovaya Inc. (NASDAQ:ELVA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 183,215 shares of the company’s stock, valued at approximately $448,000. Penbrook Management LLC owned about 0.46% of Electrovaya as of its most recent SEC filing. Institutional investors own 22.47% of the company’s stock.

About Electrovaya

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.