PEAK6 LLC Buys Shares of 1,249,080 Electra Battery Materials Corporation $ELBM

PEAK6 LLC bought a new stake in shares of Electra Battery Materials Corporation (NASDAQ:ELBM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,249,080 shares of the company’s stock, valued at approximately $754,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ground Swell Capital LLC bought a new stake in shares of Electra Battery Materials in the 1st quarter valued at $27,000. Jane Street Group LLC acquired a new stake in shares of Electra Battery Materials during the fourth quarter worth $82,000. Aristides Capital LLC bought a new position in Electra Battery Materials during the fourth quarter worth $116,000. Rathbones Group PLC raised its stake in Electra Battery Materials by 149.7% during the first quarter. Rathbones Group PLC now owns 250,171 shares of the company’s stock worth $145,000 after buying an additional 150,000 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Electra Battery Materials in the fourth quarter valued at $160,000. Institutional investors own 32.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wall Street Zen raised shares of Electra Battery Materials from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. HC Wainwright reissued a “buy” rating and issued a $2.00 price objective (down from $2.10) on shares of Electra Battery Materials in a research note on Friday. Weiss Ratings raised Electra Battery Materials from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 18th. Zacks Research upgraded Electra Battery Materials to a “hold” rating in a research report on Thursday, May 21st. Finally, Raymond James Financial reaffirmed a “buy” rating on shares of Electra Battery Materials in a research note on Friday, May 22nd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.00.

Electra Battery Materials Price Performance

Electra Battery Materials stock opened at $0.63 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.48. Electra Battery Materials Corporation has a 12-month low of $0.49 and a 12-month high of $8.70. The firm’s fifty day moving average is $0.56 and its 200 day moving average is $0.63. The company has a market capitalization of $67.24 million, a PE ratio of -0.58 and a beta of 2.53.

Electra Battery Materials Profile

Electra Battery Materials Inc is a Canada-based battery materials company focused on the sourcing, refining and recycling of critical minerals used in lithium-ion batteries. The company’s core business activities include the development of hydrometallurgical processing facilities to convert raw feedstocks—such as mined ores, recycled battery black mass and industrial by-products—into battery-grade nickel, cobalt, lithium and other specialty materials. Electra’s business model centers on vertically integrated operations designed to secure supply chain resilience for North American and global electric vehicle (EV) and energy storage markets.

In 2022, Electra Battery Materials completed a business combination transaction and commenced trading on the NASDAQ under the ticker ELBM.