Amit Dayal, an analyst from H.C. Wainwright, reiterated the Buy rating on Electrovaya. The associated price target is $10.00.
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Amit Dayal has given his Buy rating due to a combination of factors including Electrovaya’s impressive financial performance and strategic growth plans. The company reported a significant increase in net revenues and gross profit for F4Q25, indicating a strong year-over-year growth. Additionally, Electrovaya’s operating profit and net income have shown substantial improvement, reflecting the company’s efficient management and operational execution.
Electrovaya’s guidance for a minimum of 30% topline growth in FY2026 is backed by a robust purchase order backlog, which has increased significantly from the previous quarter. The company’s strengthened balance sheet and expanded production capacity, eligible for U.S. tax credits, further support the positive outlook. These developments position Electrovaya to capitalize on opportunities in new verticals beyond its core material handling market, suggesting a sustained period of growth in revenue and net income. Consequently, Amit Dayal maintains a bullish stance on the stock with a Buy rating.
In another report released yesterday, Craig-Hallum also reiterated a Buy rating on the stock with a $9.00 price target.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ELVA in relation to earlier this year.