Electrovaya Inc. (NASDAQ:ELVA) Shares Bought by AIGH Capital Management LLC

AIGH Capital Management LLC lifted its stake in Electrovaya Inc. (NASDAQ:ELVA) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,525,099 shares of the company’s stock after purchasing an additional 77,473 shares during the period. Electrovaya comprises about 2.0% of AIGH Capital Management LLC’s holdings, making the stock its 19th largest holding. AIGH Capital Management LLC owned about 0.06% of Electrovaya worth $6,262,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Penbrook Management LLC acquired a new stake in shares of Electrovaya in the 4th quarter valued at $448,000. Institutional investors own 22.47% of the company’s stock.

Analyst Upgrades and Downgrades

ELVA has been the subject of a number of recent analyst reports. Raymond James set a $4.50 price target on Electrovaya and gave the stock a “strong-buy” rating in a report on Thursday, January 30th. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Electrovaya in a research note on Friday, February 14th. Finally, Roth Mkm reiterated a “buy” rating and issued a $5.00 price target (up from $4.00) on shares of Electrovaya in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $6.10.

Electrovaya Trading Down 2.9 %

NASDAQ:ELVA opened at $2.38 on Friday. The firm has a market capitalization of $95.45 million, a PE ratio of -59.50 and a beta of 1.94. Electrovaya Inc. has a 12 month low of $1.67 and a 12 month high of $3.83. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.55 and a quick ratio of 0.69. The business’s 50-day moving average is $2.46 and its two-hundred day moving average is $2.39.

Electrovaya (NASDAQ:ELVA) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Electrovaya had a negative net margin of 3.88% and a negative return on equity of 15.42%. Research analysts predict that Electrovaya Inc. will post 0.1 earnings per share for the current fiscal year.

Electrovaya 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.