Raymond James analyst Daniel Magder has reiterated their bullish stance on ELVA stock, giving a Buy rating today.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Daniel Magder has given his Buy rating due to a combination of factors that highlight Electrovaya’s strong growth potential and strategic advancements. The company has shown impressive revenue growth, with a 77% year-over-year increase in the fourth quarter and a 43% rise for the full fiscal year 2025. This growth is supported by stable gross margins and a significant improvement in adjusted EBITDA, reflecting operational efficiencies and a solid financial position.
Furthermore, Electrovaya is expanding its market reach beyond material handling into new verticals such as robotics and energy storage, which are expected to contribute significantly to future revenues. The company’s strategic initiatives, including collaborations with global defense firms and advancements in airport equipment and energy storage solutions, underscore its potential for sustained growth. Additionally, the development of the Jamestown facility positions Electrovaya to capitalize on domestic production opportunities and potential tax credits, further supporting its long-term growth strategy.
In another report released today, Craig-Hallum also reiterated a Buy rating on the stock with a $9.00 price target.