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

Electra Battery Materials Co. (NASDAQ:ELBM) – Research analysts at HC Wainwright upped their FY2024 EPS estimates for shares of Electra Battery Materials in a report released on Tuesday, March 18th. HC Wainwright analyst H. Ihle now forecasts that the company will post earnings per share of ($1.61) for the year, up from their previous estimate of ($1.72). HC Wainwright currently has a “Buy” rating and a $2.40 target price 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 Up 5.1 %

Electra Battery Materials stock opened at $1.23 on Thursday. The company’s 50 day simple moving average is $1.54 and its 200 day simple moving average is $1.90. Electra Battery Materials has a fifty-two week low of $1.04 and a fifty-two week high of $2.83. The firm has a market capitalization of $18.21 million, a price-to-earnings ratio of -0.35 and a beta of 2.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.07 and a quick ratio of 0.07.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Electra Battery Materials stock. Scotia Capital Inc. increased its position in shares of Electra Battery Materials Co. (NASDAQ:ELBM) by 53.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 about 0.45% of Electra Battery Materials worth $30,000 as of its most recent SEC filing. Institutional investors own 32.90% of the company’s stock.

About Electra Battery Materials

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.