Short Interest in Elmet Group Co. (NASDAQ:ELMT) Rises By ∞

Elmet Group Co. (NASDAQ:ELMT) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 1,009,710 shares, a growth of ∞ from the April 15th total of 0 shares. Currently, 3.5% of the company’s shares are sold short. Based on an average daily trading volume, of 1,346,740 shares, the days-to-cover ratio is presently 0.7 days.

Elmet Group Stock Performance

NASDAQ:ELMT opened at $14.35 on Tuesday. Elmet Group has a twelve month low of $14.12 and a twelve month high of $22.25.

Insider Buying and Selling at Elmet Group

In other news, Director Kathie Merrill Leonard acquired 5,000 shares of the company’s stock in a transaction on 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 purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimberly Monzeglio Anania acquired 7,000 shares of the company’s stock in a transaction on Wednesday, April 22nd. The shares were purchased at an average cost of $14.00 per share, with a total value of $98,000.00. Following the completion of the purchase, 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 SEC filing for this purchase provides additional information.

Analyst Ratings Changes

ELMT has been the subject of several research analyst reports. Canaccord Genuity Group initiated coverage on Elmet Group in a research report on Monday. They set a “buy” rating and a $20.00 target price for the company. Roth Mkm initiated coverage on Elmet Group in a research report on Monday. They set a “buy” rating and a $21.00 target price for the company. Needham & Company LLC initiated coverage on Elmet Group in a research report on Monday. They set a “buy” rating and a $21.00 target price for the company. Wall Street Zen upgraded Elmet Group to a “hold” rating in a research report on Saturday, May 2nd. Finally, Cantor Fitzgerald initiated coverage on Elmet Group in a research report on Monday. They set an “overweight” rating and a $20.00 target price for the company. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, Elmet Group currently has an average rating of “Buy” and an average price target of $20.50.

About Elmet Group

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.