Electra Battery Materials (NASDAQ:ELBM) Shares Down 2.5% – Should You Sell?

Electra Battery Materials Co. (NASDAQ:ELBM) shares fell 2.5% on Wednesday . The stock traded as low as $0.39 and last traded at $0.40. 100,276 shares were traded during mid-day trading, a decline of 44% from the average session volume of 178,489 shares. The stock had previously closed at $0.41.

Analysts Set New Price Targets

Separately, HC Wainwright cut their price target on shares of Electra Battery Materials from $1.40 to $1.30 and set a “buy” rating on the stock in a report on Wednesday, November 27th.

Electra Battery Materials Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 0.07 and a quick ratio of 0.07. The stock’s fifty day moving average is $0.50 and its 200-day moving average is $0.49. The stock has a market capitalization of $20.99 million, a PE ratio of -0.42 and a beta of 2.61.

Hedge Funds Weigh In On Electra Battery Materials

An institutional investor recently bought a new position in Electra Battery Materials stock. Rathbones Group PLC purchased a new stake in Electra Battery Materials Co. (NASDAQ:ELBM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 100,687 shares of the company’s stock, valued at approximately $44,000. Rathbones Group PLC owned about 0.18% of Electra Battery Materials as of its most recent filing with the Securities and Exchange Commission (SEC). 32.90% of the stock is owned by hedge funds and other institutional investors.

Electra Battery Materials Company Profile

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.