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Electrovaya ( (TSE:ELVA) ) has shared an update.
Electrovaya Inc. announced that its chairman and director, Dr. Sankar Das Gupta, has exercised 1,420,000 warrants at an exercise price of $0.90 per share, increasing his direct ownership to 11,690,751 common shares, or about 23.66% of the company on a non-diluted basis, along with 605,000 remaining options. If all of his options were exercised, Das Gupta’s stake would rise to approximately 24.58%, signaling a significant capital commitment and vote of confidence in Electrovaya’s valuation and prospects, while leaving open the possibility of future adjustments to his holdings through market or private transactions within applicable securities regulations.
The most recent analyst rating on (TSE:ELVA) stock is a Hold with a C$14.50 price target. To see the full list of analyst forecasts on Electrovaya stock, see the TSE:ELVA Stock Forecast page.
Spark’s Take on TSE:ELVA Stock
According to Spark, TipRanks’ AI Analyst, TSE:ELVA is a Neutral.
The score is driven primarily by improving financial performance (growth and margins) but held back by weak cash flow conversion and balance-sheet reliance on debt. Technicals are strong but overbought, adding near-term risk. Valuation is the largest headwind due to the very high P/E, while the earnings call adds support via profitability and strong growth guidance.
To see Spark’s full report on TSE:ELVA stock, click here.
More about Electrovaya
Electrovaya Inc. is a technology-driven lithium-ion battery company that commercializes its proprietary Infinity Battery Technology, designed for high safety, long life and strong performance in mission-critical industrial, robotics, defense and energy-storage applications. The company supplies durable, high-value battery solutions to global OEMs and end users, and is expanding its U.S. manufacturing footprint via a 52-acre site in Jamestown, New York, slated to become its first gigafactory, while maintaining two Canadian sites focused on research, engineering and product commercialization.
YTD Price Performance: 26.20%
Average Trading Volume: 110,134
Technical Sentiment Signal: Buy
Current Market Cap: C$650M
Learn more about ELVA stock on TipRanks’ Stock Analysis page.