Roth Mkm reaffirmed their buy rating on shares of Electrovaya (NASDAQ:ELVA – Free Report) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $8.00 target price on the stock.
Other equities analysts also recently issued research reports about the stock. Craig Hallum decreased their price objective on shares of Electrovaya from $14.00 to $10.00 and set a buy rating for the company in a research note on Thursday, January 4th. Roth Capital restated a buy rating on shares of Electrovaya in a research note on Wednesday, March 6th.
View Our Latest Report on ELVA
Electrovaya Stock Performance
Electrovaya (NASDAQ:ELVA – Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter. Electrovaya had a net margin of 1.79% and a return on equity of 12.44%. The company had revenue of $12.09 million during the quarter, compared to analyst estimates of $12.63 million. As a group, analysts expect that Electrovaya will post 0.18 earnings per share for the current year.
Institutional Investors Weigh In On Electrovaya
Institutional investors and hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank purchased a new stake in shares of Electrovaya in the third quarter valued at about $67,000. Worth Venture Partners LLC acquired a new position in Electrovaya during the fourth quarter worth about $2,510,000. Finally, AIGH Capital Management LLC acquired a new position in Electrovaya during the third quarter worth about $9,582,000. 22.47% of the stock is owned by hedge funds and other institutional investors.
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.
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