Elmet Group (NASDAQ:ELMT) Trading 8.7% Higher – Should You Buy?

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wall Street Zen upgraded Elmet Group to a “hold” rating in a research report on Saturday, May 2nd. Cantor Fitzgerald assumed coverage on Elmet Group in a research report on Monday, May 18th. They issued an “overweight” rating and a $20.00 price target on the stock. Zacks Research upgraded Elmet Group to a “hold” rating in a research report on Tuesday, May 19th. Needham & Company LLC initiated coverage on Elmet Group in a research note on Monday, May 18th. They issued a “buy” rating and a $21.00 target price for the company. Finally, Roth Mkm initiated coverage on Elmet Group in a research note on Monday, May 18th. They issued a “buy” rating and a $21.00 target price for the company. 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, Elmet Group currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Elmet Group Stock Up 10.2%

Elmet Group (NASDAQ:ELMT) last posted its earnings results on Friday, May 29th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.41. The business had revenue of $56.01 million during the quarter, compared to analyst estimates of $52.77 million.

Insider Transactions at Elmet Group

In other news, Director Kathie Merrill Leonard purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The shares were bought at an average cost of $14.00 per share, for a total transaction of $70,000.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $70,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimberly Monzeglio Anania purchased 7,000 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The stock was purchased at an average price of $14.00 per share, for a total transaction of $98,000.00. Following the completion of the acquisition, the director owned 7,000 shares of the company’s stock, valued at approximately $98,000. 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.