Electrovaya (NASDAQ:ELVA) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Electrovaya (NASDAQ:ELVA - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.01, Zacks reports. Electrovaya had a return on equity of 6.66% and a net margin of 2.19%.Electrovaya Stock PerformanceShares of ELVA remained flat at $5.38 during trading hours on Wednesday. The stock had a trading volume of 808,687 shares, compared to its average volume of 255,252. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.03 and a quick ratio of 2.88. Electrovaya has a one year low of $1.80 and a one year high of $7.72. The company has a market cap of $255.60 million, a PE ratio of 179.39 and a beta of 1.66. The stock has a 50 day moving average price of $5.70 and a 200-day moving average price of $4.97. Analyst Ratings ChangesA number of analysts have issued reports on ELVA shares. Zacks Research raised shares of Electrovaya from a "strong sell" rating to a "hold" rating in a report on Tuesday, November 11th. Wall Street Zen downgraded shares of Electrovaya from a "buy" rating to a "hold" rating in a research report on Sunday, September 28th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Electrovaya in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Electrovaya has a consensus rating of "Moderate Buy" and an average target price of $6.50.View Our Latest Research Report on ELVAHedge Funds Weigh In On ElectrovayaInstitutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP acquired a new stake in Electrovaya during the 3rd quarter worth about $74,000. Millennium Management LLC bought a new stake in shares of Electrovaya during the 3rd quarter valued at about $95,000. Virtu Financial LLC acquired a new stake in Electrovaya during the third quarter worth approximately $96,000. Susquehanna International Group LLP bought a new stake in Electrovaya in the third quarter worth approximately $97,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Electrovaya in the third quarter valued at approximately $118,000. 22.47% of the stock is currently owned by institutional investors and hedge funds. About Electrovaya (Get Free Report)Electrovaya Inc engages in the design, development, manufacture, and sale of lithium-ion batteries, battery management systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications in North America. It offers lithium-ion batteries and systems for materials handling electric vehicles, including forklifts and automated guided vehicles, as well as battery chargers to charge the batteries; electromotive power products for electric trucks, electric buses, and other transportation applications; industrial products for energy storage; and power solutions, such as competencies in building systems for third parties.Read MoreFive stocks we like better than ElectrovayaA Deeper Look at Bid-Ask SpreadsThe Top 3 Investment Themes That Will Dominate 2026Best of the list of Dividend Aristocrats: Build wealth with the aristocrat indexVertical’s Valo Launch: A Commercial Leap Disguised as a Dip3 Dividend Kings To Consider Dividend Stocks for 2026: Where to Invest as the Market CoolsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Electrovaya Right Now?Before you consider Electrovaya, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Electrovaya wasn't on the list.While Electrovaya currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here