ELVA has 36-month beta value of 1.47. Analysts have mixed views on the stock, with 2 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for ELVA is 22.71M, and currently, short sellers hold a 0.27% ratio of that float. The average trading volume of ELVA on November 15, 2024 was 19.04K shares.
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ELVA) stock’s latest price update
Electrovaya, Inc (NASDAQ: ELVA) has experienced a rise in its stock price by 12.61 compared to its previous closing price of 2.13. However, the company has seen a gain of 7.62% in its stock price over the last five trading days. accesswire.com reported 2024-11-14 that Funding under EXIM‘s Make More in America initiative will fund equipment, engineering and setup costs for Electrovaya’s Jamestown Battery Manufacturing Facility JAMESTOWN, NY / ACCESSWIRE / November 14, 2024 / Electrovaya Inc. (“Electrovaya” or the “Company”) (NASDAQ:ELVA)(TSX:ELVA), a leading lithium-ion battery technology and manufacturing company, is pleased to announce that it has secured a direct loan in the amount of US$50.8 million from the Export-Import Bank of the United States (“EXIM”) under the bank’s ‘Make More in America’ initiative. This financing will fund Electrovaya’s battery manufacturing buildout in Jamestown, New York including equipment, engineering and setup costs for the facility.
ELVA’s Market Performance
ELVA’s stock has risen by 7.62% in the past week, with a monthly rise of 6.19% and a quarterly rise of 18.23%. The volatility ratio for the week is 16.39% while the volatility levels for the last 30 days are 7.84% for Electrovaya, Inc The simple moving average for the past 20 days is 11.82% for ELVA’s stock, with a -15.33% simple moving average for the past 200 days.
Analysts’ Opinion of ELVA
Many brokerage firms have already submitted their reports for ELVA stocks, with ROTH MKM repeating the rating for ELVA by listing it as a “Buy.” The predicted price for ELVA in the upcoming period, according to ROTH MKM is $8 based on the research report published on March 06, 2024 of the current year 2024.
ELVA Trading at 9.25% from the 50-Day Moving Average
After a stumble in the market that brought ELVA to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -47.62% of loss for the given period.
Volatility was left at 7.84%, however, over the last 30 days, the volatility rate increased by 16.39%, as shares surge +5.26% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +21.21% upper at present.
During the last 5 trading sessions, ELVA rose by +7.62%, which changed the moving average for the period of 200-days by -32.98% in comparison to the 20-day moving average, which settled at $2.15. In addition, Electrovaya, Inc saw -21.57% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for ELVA
Current profitability levels for the company are sitting at:
- 0.05 for the present operating margin
- 0.28 for the gross margin
The net margin for Electrovaya, Inc stands at -0.03. The total capital return value is set at 0.23. Equity return is now at value -22.23, with -4.24 for asset returns.
Based on Electrovaya, Inc (ELVA), the company’s capital structure generated 0.7 points at debt to capital in total, while cash flow to debt ratio is standing at -0.12. The debt to equity ratio resting at 2.38. The interest coverage ratio of the stock is 0.9.
Currently, EBITDA for the company is -0.32 million with net debt to EBITDA at 17.25. When we switch over and look at the enterprise to sales, we see a ratio of 2.13. The receivables turnover for the company is 5.87for trailing twelve months and the total asset turnover is 1.27. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.99.
Conclusion
To put it simply, Electrovaya, Inc (ELVA) has had a mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
