Electra Battery Materials (NASDAQ:ELBM) Rating Increased to Strong-Buy at Alliance Global Partners

Electra Battery Materials (NASDAQ:ELBM) was upgraded by equities researchers at Alliance Global Partners to a “strong-buy” rating in a report issued on Thursday, Zacks.com reports.

Separately, HC Wainwright cut their target price on shares of Electra Battery Materials from $1.60 to $1.40 and set a “buy” rating for the company in a research note on Tuesday, May 28th.

Electra Battery Materials Stock Performance

NASDAQ:ELBM opened at $0.38 on Thursday. The stock has a 50-day simple moving average of $0.40 and a two-hundred day simple moving average of $0.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.14 and a current ratio of 0.14. Electra Battery Materials has a 52-week low of $0.26 and a 52-week high of $0.82. The firm has a market capitalization of $20.98 million, a PE ratio of -0.40 and a beta of 2.56.

Electra Battery Materials (NASDAQ:ELBM) last announced its quarterly earnings data on Tuesday, May 21st. The company reported ($0.16) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Electra Battery Materials stock. Rathbones Group PLC purchased a new stake in Electra Battery Materials Co. (NASDAQ:ELBM) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 100,687 shares of the company’s stock, valued at approximately $44,000. Rathbones Group PLC owned approximately 0.18% of Electra Battery Materials as of its most recent filing with the SEC. Institutional investors own 32.90% of the company’s stock.

Electra Battery Materials Company Profile

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.