Electrovaya’s (ELVA) “Buy” Rating Reaffirmed at Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Electrovaya (NASDAQ:ELVA) 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.

Electrovaya Stock Performance

Shares of ELVA stock opened at $3.66 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.61 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average price of $3.90 and a 200 day moving average price of $3.28. The company has a market cap of $124.00 million and a P/E ratio of 183.09. Electrovaya has a 12 month low of $2.34 and a 12 month high of $5.50.

Electrovaya (NASDAQ:ELVA) last issued its earnings results on Tuesday, February 13th. The company reported ($0.03) EPS for the quarter. The firm had revenue of $12.09 million for the quarter, compared to analyst estimates of $12.63 million. Electrovaya had a return on equity of 12.44% and a net margin of 1.79%. Sell-side analysts predict that Electrovaya will post 0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Electrovaya

Large investors have recently bought and sold shares of the stock. AIGH Capital Management LLC purchased a new stake in shares of Electrovaya in the third quarter valued at about $9,582,000. Worth Venture Partners LLC purchased a new stake in shares of Electrovaya in the fourth quarter valued at about $2,510,000. Finally, Toronto Dominion Bank purchased a new stake in shares of Electrovaya in the third quarter valued at about $67,000. Institutional investors and hedge funds own 22.47% of the company’s stock.

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.