Elmet Group Co.’s Quiet Period Will Expire on June 2nd (NASDAQ:ELMT)

Elmet Group’s (NASDAQ:ELMT) quiet period will end on Tuesday, June 2nd. Elmet Group had issued 8,571,428 shares in its public offering on April 23rd. The total size of the offering was $119,999,992 based on an initial share price of $14.00. During Elmet Group’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Needham & Company LLC assumed coverage on Elmet Group in a research note on Monday, May 18th. They issued a “buy” rating and a $21.00 target price on the stock. Canaccord Genuity Group started coverage on Elmet Group in a research note on Monday, May 18th. They set a “buy” rating and a $20.00 price target for the company. Cantor Fitzgerald initiated coverage on Elmet Group in a report on Monday, May 18th. They set an “overweight” rating and a $20.00 price target for the company. Zacks Research upgraded shares of Elmet Group to a “hold” rating in a research report on Tuesday, May 19th. Finally, Roth Mkm initiated coverage on shares of Elmet Group in a research note on Monday, May 18th. They issued a “buy” rating and a $21.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.50.

Elmet Group Price Performance

Shares of ELMT opened at $14.70 on Tuesday. Elmet Group has a twelve month low of $13.38 and a twelve month high of $22.25.

Insider Buying and Selling

In other Elmet Group news, Director Kathie Merrill Leonard acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were purchased at an average price of $14.00 per share, with a total value of $70,000.00. Following the completion of the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $70,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kimberly Monzeglio Anania acquired 7,000 shares of the business’s stock in a transaction on Wednesday, April 22nd. The stock was acquired at an average price of $14.00 per share, with a total value of $98,000.00. Following the transaction, the director directly owned 7,000 shares of the company’s stock, valued at $98,000. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing.

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.