Elmet Group (NASDAQ:ELMT) Price Target Raised to $28.00

Elmet Group (NASDAQ:ELMT – Free Report) had its target price increased by Needham & Company LLC from $25.00 to $28.00 in a research note released on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

ELMT has been the topic of a number of other reports. Weiss Ratings upgraded shares of Elmet Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, October 2nd. Roth Capital reiterated a “buy” rating and set a $26.00 price objective (up from $21.00) on shares of Elmet Group in a report on Tuesday, September 15th. Finally, Canaccord Genuity Group upped their target price on shares of Elmet Group from $21.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Elmet Group has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

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View Our Latest Analysis on ELMT

Elmet Group Stock Up 3.2%

ELMT opened at $21.12 on Thursday. The firm’s fifty day simple moving average is $18.47. The stock has a market cap of $643.32 million and a PE ratio of 51.51. The company has a current ratio of 3.03, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04. Elmet Group has a 52-week low of $12.48 and a 52-week high of $25.03.

Elmet Group (NASDAQ:ELMT – Get Free Report) last released its earnings results on Thursday, August 13th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.38. The business had revenue of $66.40 million during the quarter. The business’s revenue for the quarter was up 35.2% on a year-over-year basis. Equities analysts anticipate that Elmet Group will post 0.72 EPS for the current fiscal year.

Institutional Trading of Elmet Group

Institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC purchased a new stake in Elmet Group during the 2nd quarter worth approximately $2,560,000. State Street Corp purchased a new position in shares of Elmet Group in the second quarter worth $2,640,000. AWM Investment Company Inc. acquired a new stake in shares of Elmet Group during the second quarter worth $6,807,000. Wellington Management Group LLP purchased a new stake in shares of Elmet Group during the second quarter valued at $10,537,000. Finally, Bangor Savings Bank purchased a new stake in shares of Elmet Group during the third quarter valued at $48,741,000.

About Elmet Group

(Get Free Report)

Elmet Group, Inc is a blank check company, also known as a special purpose acquisition company (SPAC). Its primary objective is to identify and complete a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more operating businesses.

Because Elmet Group was formed to pursue a business combination, it does not currently operate as a traditional company with established products, services or revenue-generating business segments.

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