Electrovaya (NASDAQ:ELVA) Posts Earnings Results, Beats Expectations By $0.01 EPS

Electrovaya (NASDAQ:ELVA) announced its quarterly earnings data on Thursday. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01, Zacks reports. Electrovaya had a negative net margin of 3.33% and a negative return on equity of 18.87%. Electrovaya updated its FY 2025 guidance to EPS.

Electrovaya Trading Up 2.5 %

Shares of ELVA opened at $2.44 on Friday. The firm’s 50-day moving average price is $2.49 and its 200-day moving average price is $2.32. The firm has a market capitalization of $97.82 million, a price-to-earnings ratio of -81.33 and a beta of 1.84. The company has a current ratio of 1.03, a quick ratio of 0.69 and a debt-to-equity ratio of 0.22. Electrovaya has a 1-year low of $1.67 and a 1-year high of $4.24.

Analysts Set New Price Targets

ELVA has been the topic of several analyst reports. Raymond James set a $4.50 price objective on shares of Electrovaya and gave the stock a “strong-buy” rating in a research note on Thursday, January 30th. HC Wainwright lowered their target price on shares of Electrovaya from $16.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $6.70.

About Electrovaya

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.