Electra Battery Materials Co. (NASDAQ:ELBM) Sees Large Growth in Short Interest
13.1% from the March 30th total of 599,000 shares. Based on an average daily volume of 605,400 shares, the days-to-cover ratio is presently 1.1 days. The company has a market capitalization of $31.58 million and a price-to-earnings ratio of -0.67. The stock has a 50 day moving average price of $
() experienced a significant increase in short interest during the month of March. On April 30, there were 679,200 shorted shares. This is an increase of 10.3% compared to the total of 615 800 shares on April 15. The short-interest rate is 16.8 days based on a daily average trading volume of 40,500 share. About 2.0% of a company's stock is short-sold.
Electra Battery Materials stock down 21.4 %
On Tuesday, the stock fell $0.25 to $0.92. The trading volume was 402,002 shares compared to the average of 56,728. Electra Battery Materials's one-year low is $0.90, and its one-year high is $4.50. The market cap is $32.67m and the price-to earnings ratio is 5.11. Recently, several institutional investors and hedge fund have bought and sold the shares of this company. Highbridge Capital Management LLC purchased a new position of shares in Electra Battery Materials during the first quarter, valued at about $14,765,000. Jefferies Financial Group Inc. purchased a new share of Electra Battery Materials during the fourth quarter, valued at $43,000. Compagnie Lombard Odier SCmA increased its holdings of shares of Electra Battery Materials in the fourth-quarter by 83.3%. Compagnie Lombard Odier SCmA owns now 55,000 shares valued at $91,000, after purchasing an additional 25,000 in the fourth quarter. JPMorgan Chase & Co. acquired a new stake in shares of Electra Battery Materials during the fourth quarter, valued at about $202,000. Advisor Group Holdings Inc. increased its holdings of Electra Battery Materials shares by 138.9% during the fourth quarter. Advisor Group Holdings Inc. owns 248,480 of the company’s stock, valued at $413,000. This is after adding 144,480 additional shares during the last quarter. Institutional investors hold 1.87% the company's shares.
Wall Street analysts weigh in
Several equities analyst recently weighed-in on ELBM's shares. HC Wainwright lowered their target price for shares of Electra Battery Materials in a Friday report from $7.75 down to $4.50. Alliance Global Partners reduced their price target on shares of Electra Battery Materials in a Friday report from $8.00 down to $6.00.
Electra Battery Materials
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Electra Battery Materials Corp. is engaged in the acquisition, exploration and development of mineral property. The company's portfolio of projects includes First Cobalt Refinery and Greater Cobalt. The company was established on July 13, 2011, and has its headquarters in Toronto, Canada.
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