Electra Battery Materials Co. (NASDAQ:ELBM) Short Interest Up 366.0% in March

Electra Battery Materials Co. (NASDAQ:ELBM) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 249,300 shares, an increase of 366.0% from the March 15th total of 53,500 shares. Based on an average trading volume of 123,900 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.7% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $2.40 target price on shares of Electra Battery Materials in a research report on Tuesday, March 18th.

Electra Battery Materials Stock Down 0.5 %

NASDAQ ELBM traded down $0.01 during mid-day trading on Monday, hitting $1.08. The company’s stock had a trading volume of 369,697 shares, compared to its average volume of 70,925. The firm has a market capitalization of $15.95 million, a price-to-earnings ratio of -0.30 and a beta of 2.57. The company’s 50 day simple moving average is $1.39 and its 200 day simple moving average is $1.73. Electra Battery Materials has a twelve month low of $0.91 and a twelve month high of $2.83. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.12.

Electra Battery Materials (NASDAQ:ELBM) last announced its quarterly earnings results on Friday, March 28th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.73) by $4.29. Analysts anticipate that Electra Battery Materials will post -1.72 earnings per share for the current year.

Institutional Trading of 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 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,766 shares of the company’s stock after buying an additional 23,290 shares during the period. Scotia Capital Inc. owned 0.45% of Electra Battery Materials worth $30,000 as of its most recent filing with the SEC. Institutional investors and hedge funds 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.