Electra Battery Materials (NASDAQ:ELBM) Issues Quarterly Earnings Results

Electra Battery Materials (NASDAQ:ELBM) announced its quarterly earnings results on Thursday. The company reported $0.12 EPS for the quarter, Zacks reports.

Electra Battery Materials Stock Performance

ELBM stock traded up $0.00 during midday trading on Thursday, hitting $0.62. 605,864 shares of the company traded hands, compared to its average volume of 1,316,435. Electra Battery Materials has a twelve month low of $0.50 and a twelve month high of $8.70. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.94. The business has a 50 day simple moving average of $0.62 and a 200-day simple moving average of $0.83. The stock has a market capitalization of $64.32 million, a price-to-earnings ratio of -0.33 and a beta of 2.51.

Hedge Funds Weigh In On Electra Battery Materials

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new position in Electra Battery Materials during the fourth quarter valued at approximately $160,000. PEAK6 LLC acquired a new position in Electra Battery Materials during the fourth quarter valued at approximately $840,000. Jane Street Group LLC acquired a new position in Electra Battery Materials during the fourth quarter valued at approximately $82,000. Aristides Capital LLC acquired a new position in Electra Battery Materials during the fourth quarter valued at approximately $116,000. Finally, Cable Car Capital LP acquired a new position in Electra Battery Materials during the second quarter valued at approximately $223,000. Institutional investors and hedge funds own 32.90% of the company’s stock.

Electra Battery Materials Company Profile

Electra Battery Materials Inc is a Canada-based battery materials company focused on the sourcing, refining and recycling of critical minerals used in lithium-ion batteries. The company’s core business activities include the development of hydrometallurgical processing facilities to convert raw feedstocks—such as mined ores, recycled battery black mass and industrial by-products—into battery-grade nickel, cobalt, lithium and other specialty materials. Electra’s business model centers on vertically integrated operations designed to secure supply chain resilience for North American and global electric vehicle (EV) and energy storage markets.

In 2022, Electra Battery Materials completed a business combination transaction and commenced trading on the NASDAQ under the ticker ELBM.