Electrovaya Inc. (OTCMKTS:EFLVF – Get Rating) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 406,700 shares, a decline of 11.5% from the March 15th total of 459,500 shares. Based on an average daily trading volume, of 140,800 shares, the days-to-cover ratio is presently 2.9 days.
Analysts Set New Price Targets
Separately, Craig Hallum began coverage on shares of Electrovaya in a research report on Friday, March 17th. They set a "buy" rating on the stock.
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Shares of OTCMKTS:EFLVF traded down $0.04 during trading on Thursday, hitting $0.74. The company's stock had a trading volume of 53,949 shares, compared to its average volume of 76,441. The business has a 50 day moving average price of $0.80 and a two-hundred day moving average price of $0.80. Electrovaya has a fifty-two week low of $0.40 and a fifty-two week high of $1.01.
About Electrovaya
(Get Rating)
Electrovaya, Inc is a lithium-ion battery technology and manufacturing company. engages in designing, developing, and manufacturing proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. The firm's businesses include lithium-ion batteries to power MHEVs including forklifts and Automated Guided Vehicles, as well as accessories such 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 specialty applications which require complex power solutions, including competencies in building systems for third parties.
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