Short sellers ramped up positions in ELV over the past month while the stock surged 70%. The Australian lithium miner reports April 28 with short interest at 5.4% of float and cost to borrow sitting at 6.7%.
Short interest stands at 9.18 million shares as of April 23, representing 5.4% of the free float. That's up 111% over the past month, even as the shares climbed from around A$7.09 to A$12.04. The position ticked up 0.4% day-over-day but eased 3.2% over the past week. Days to cover sits at 6.3 based on recent volume. Utilisation has dropped sharply from a 100% peak in the past year to 29.8% currently, indicating plenty of borrow supply. Short sellers are stepping back after heavier utilisation earlier in April.
No options data available for this Australian-listed security.
No analyst coverage is currently available for Elevra Lithium.
The stock trades at a price-to-book ratio of 1.82, up 0.50 over the past 30 days as the rally extended. The P/E ratio of 14.9 has climbed 4.1 points in the same period. EV/EBITDA sits at 28.8, up 0.77 from a month ago. Elevra ranks in the 60th percentile on the 12-month forward EPS growth metric and the 67th percentile on dividend score. Its short score of 60.97 places it in the 2nd percentile of the universe, indicating extreme short positioning relative to peers.
Insiders bought a modest A$15,849 net over the past 90 days, though that data is 150 days stale. BNY Asset Management holds the largest institutional position at 22.3% of shares outstanding, though it trimmed 7.0 million shares in its last filing. State Street recently added 7.1 million shares to hold 6.1%, and Vanguard increased by 3.2 million to reach 5.3%.
Elevra's last earnings event was April 22-23, just announced on April 15. The stock is up 11% in the past day and 16% over the week heading into this week's print.
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