Electrovaya (TSE:EFL) Share Price Passes Below 200-Day Moving Average of $0.82

Electrovaya Inc. (TSE:EFLGet Rating) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$0.82 and traded as low as C$0.56. Electrovaya shares last traded at C$0.57, with a volume of 11,652 shares traded.

Separately, HC Wainwright began coverage on shares of Electrovaya in a research report on Monday, May 23rd. They set a “buy” rating and a C$3.25 target price on the stock.

The company has a market cap of C$83.68 million and a price-to-earnings ratio of -7.81. The stock’s 50 day moving average price is C$0.71 and its 200 day moving average price is C$0.82.

Electrovaya (TSE:EFLGet Rating) last released its earnings results on Tuesday, May 10th. The company reported C($0.03) EPS for the quarter. The firm had revenue of C$5.43 million during the quarter. On average, analysts anticipate that Electrovaya Inc. will post 0.04 earnings per share for the current year.

Electrovaya Company Profile (TSE:EFL)

Electrovaya Inc, together with its subsidiaries, engages in the designing, developing, and manufacturing lithium-ion advanced battery and battery systems 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 building systems for third parties.

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