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Electrovaya ( (TSE:ELVA) ) just unveiled an update.
Electrovaya Inc. has announced the pricing of its oversubscribed public offering, raising approximately US$24.4 million through the sale of 4,700,000 common shares at US$5.20 each. The proceeds will be used for investments in energy services, next-generation battery research, and general corporate purposes, with the offering expected to close on November 6, 2025, subject to customary conditions.
The most recent analyst rating on (TSE:ELVA) stock is a Hold with a C$9.00 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.
Electrovaya’s strong earnings call performance and positive technical indicators are the most significant factors contributing to its score. While financial performance shows potential with revenue growth and cash flow improvements, high debt levels and valuation concerns weigh down the overall score.
To see Spark’s full report on TSE:ELVA stock, click here.
More about Electrovaya
Electrovaya Inc. is a pioneering leader in the global energy transformation, focusing on supplying safe and long-lasting lithium-ion batteries. The company aims to contribute to the prevention of climate change without compromising energy and power.
Average Trading Volume: 110,498
Technical Sentiment Signal: Buy
Current Market Cap: C$327.7M
See more insights into ELVA stock on TipRanks’ Stock Analysis page.