What is HC Wainwright’s Estimate for ELBM FY2024 Earnings?

Electra Battery Materials Co. (NASDAQ:ELBM) – Stock analysts at HC Wainwright increased their FY2024 EPS estimates for Electra Battery Materials in a research report issued on Tuesday, March 18th. HC Wainwright analyst H. Ihle now expects that the company will earn ($1.61) per share for the year, up from their previous estimate of ($1.72). HC Wainwright currently has a “Buy” rating and a $2.40 price objective on the stock. The consensus estimate for Electra Battery Materials’ current full-year earnings is ($1.72) per share. HC Wainwright also issued estimates for Electra Battery Materials’ FY2025 earnings at ($0.81) EPS.

Electra Battery Materials Stock Down 6.6 %

Shares of ELBM opened at $1.27 on Thursday. Electra Battery Materials has a 52 week low of $1.04 and a 52 week high of $2.83. 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 stock’s 50-day moving average price is $1.56 and its 200-day moving average price is $1.92. The company has a market capitalization of $18.80 million, a price-to-earnings ratio of -0.36 and a beta of 2.46.

Institutional Investors Weigh In On Electra Battery Materials

An institutional investor recently raised its position in Electra Battery Materials stock. Scotia Capital Inc. raised its position in Electra Battery Materials Co. (NASDAQ:ELBM) by 53.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,766 shares of the company’s stock after acquiring an additional 23,290 shares during the quarter. Scotia Capital Inc. owned approximately 0.45% of Electra Battery Materials worth $30,000 as of its most recent SEC filing. 32.90% of the stock is currently owned by institutional investors and hedge funds.

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.