Electra Battery Materials (NASDAQ:ELBM) Given New $1.30 Price Target at HC Wainwright

Electra Battery Materials (NASDAQ:ELBM) had its target price decreased by HC Wainwright from $1.40 to $1.30 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 173.17% from the company’s current price.

Separately, Alliance Global Partners upgraded shares of Electra Battery Materials to a “strong-buy” rating in a research note on Thursday, August 15th.

Electra Battery Materials Price Performance

Shares of Electra Battery Materials stock opened at $0.48 on Wednesday. Electra Battery Materials has a twelve month low of $0.26 and a twelve month high of $0.75. 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 50-day simple moving average of $0.57 and a two-hundred day simple moving average of $0.50. The stock has a market capitalization of $26.58 million, a price-to-earnings ratio of -0.53 and a beta of 2.69.

Hedge Funds Weigh In On Electra Battery Materials

An institutional investor recently bought a new position in Electra Battery Materials stock. Rathbones Group PLC purchased a new stake in shares of Electra Battery Materials Co. (NASDAQ:ELBM) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 100,687 shares of the company’s stock, valued at approximately $44,000. Rathbones Group PLC owned about 0.18% of Electra Battery Materials at the end of the most recent quarter. Institutional investors and hedge funds 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.