Elmet Group (NASDAQ:ELMT) Trading Up 8.7% – Here’s What Happened

Elmet Group Co. (NASDAQ:ELMT)’s stock price was up 8.7% on Friday . The stock traded as high as $20.88 and last traded at $21.1250. Approximately 100,033 shares traded hands during trading, a decline of 87% from the average daily volume of 753,346 shares. The stock had previously closed at $19.43.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ELMT shares. Roth Mkm started coverage on shares of Elmet Group in a research report on Monday, May 18th. They set a “buy” rating and a $21.00 price objective for the company. Needham & Company LLC started coverage on shares of Elmet Group in a research report on Monday, May 18th. They set a “buy” rating and a $21.00 price objective for the company. Canaccord Genuity Group assumed coverage on shares of Elmet Group in a research report on Monday, May 18th. They set a “buy” rating and a $20.00 price objective for the company. Cantor Fitzgerald assumed coverage on shares of Elmet Group in a report on Monday, May 18th. They issued an “overweight” rating and a $20.00 target price for the company. Finally, Wall Street Zen upgraded shares of Elmet Group to a “hold” rating in a report on Saturday, May 2nd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Elmet Group has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Elmet Group Trading Up 5.2%

Elmet Group (NASDAQ:ELMT) last announced its earnings results on Friday, May 29th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.18) by $0.41. The firm had revenue of $56.01 million during the quarter, compared to analyst estimates of $52.77 million.

Insider Buying and Selling

In related news, Director Kimberly Monzeglio Anania purchased 7,000 shares of Elmet Group stock in a transaction dated Wednesday, April 22nd. The stock was acquired at an average cost of $14.00 per share, with a total value of $98,000.00. Following the completion of the transaction, the director directly owned 7,000 shares of the company’s stock, valued at $98,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathie Merrill Leonard purchased 5,000 shares of Elmet Group stock in a transaction dated Wednesday, April 22nd. The stock was bought at an average cost of $14.00 per share, with a total value of $70,000.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $70,000. This represents a ∞ increase in their ownership of the stock. 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.