Short Interest in Electra Battery Materials Co. (NASDAQ:ELBM) Declines By 41.4%

Electra Battery Materials Co. (NASDAQ:ELBM) was the recipient of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 215,800 shares, a decrease of 41.4% from the February 29th total of 368,300 shares. Based on an average daily trading volume, of 223,200 shares, the short-interest ratio is presently 1.0 days. Currently, 0.4% of the shares of the stock are short sold.

Electra Battery Materials Price Performance

Shares of ELBM stock remained flat at $0.45 on Thursday. 42,616 shares of the company traded hands, compared to its average volume of 213,314. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.24 and a current ratio of 0.24. Electra Battery Materials has a 52 week low of $0.31 and a 52 week high of $2.66. The firm’s 50 day moving average is $0.49 and its two-hundred day moving average is $0.49.

Hedge Funds Weigh In On Electra Battery Materials

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in Electra Battery Materials during the 2nd quarter valued at $47,000. Jefferies Financial Group Inc. purchased a new stake in Electra Battery Materials during the 4th quarter valued at $43,000. Northern Trust Corp purchased a new stake in Electra Battery Materials during the 2nd quarter valued at $114,000. JPMorgan Chase & Co. purchased a new stake in Electra Battery Materials during the 4th quarter valued at $202,000. Finally, Rathbones Group PLC purchased a new stake in Electra Battery Materials during the 3rd quarter valued at $31,000. 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.