Elmet Group Co. (NASDAQ:ELMT – Get Free Report) gapped up before the market opened on Monday following a stronger than expected earnings report. The stock had previously closed at $15.28, but opened at $19.05. Elmet Group shares last traded at $19.9050, with a volume of 1,331,753 shares changing hands.
The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.41. The company had revenue of $56.01 million during the quarter, compared to analyst estimates of $52.77 million.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Canaccord Genuity Group initiated coverage on Elmet Group in a research report on Monday, May 18th. They set a “buy” rating and a $20.00 price target on the stock. Cantor Fitzgerald initiated coverage on shares of Elmet Group in a research report on Monday, May 18th. They issued an “overweight” rating and a $20.00 price target on the stock. Wall Street Zen upgraded shares of Elmet Group to a “hold” rating in a research report on Saturday, May 2nd. Zacks Research raised shares of Elmet Group to a “hold” rating in a research note on Tuesday, May 19th. Finally, Roth Mkm began coverage on shares of Elmet Group in a report on Monday, May 18th. They issued a “buy” rating and a $21.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.
Insider Buying and Selling at Elmet Group
In other Elmet Group news, Director Kimberly Monzeglio Anania acquired 7,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The stock was purchased at an average cost of $14.00 per share, for a total transaction of $98,000.00. Following the transaction, the director owned 7,000 shares of the company’s stock, valued at $98,000. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathie Merrill Leonard bought 5,000 shares of the stock in a transaction on Wednesday, April 22nd. The shares were acquired at an average cost of $14.00 per share, for a total transaction of $70,000.00. Following the purchase, the director owned 5,000 shares in the company, valued at approximately $70,000. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information.
Elmet Group Trading Up 34.8%
Elmet Group Company Profile
Elmet provides precision-engineered components and advanced high-energy systems for growth markets. Our customers in these markets require advanced technology involving critical and strategic materials, such as tungsten, molybdenum and niobium (such materials, the “Critical Materials”) and high-level radio frequency (“RF”) engineering, including plasma generation, radar, and other high-energy systems (together, “High-Power Microwave”). Our products and solutions are integral to the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics, and Energy industries.
See Also
- Five stocks we like better than Elmet Group
- 2 Pick-and-Shovel Plays for Major Digital Infrastructure Buildout
- Best Buy’s AI Laptop Boost Sparks Hope for a BBY Turnaround
- SanDisk’s Stock and Short Interest Both at Record Highs —Do the Bears Know Something?
- Alphabet Bets on Hardware With Googlebook and AI Glasses
Receive News & Ratings for Elmet Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elmet Group and related companies with MarketBeat.com's FREE daily email newsletter.
