Welsbach Technology Metals Acquisition Corp. (NASDAQ:EMAT) Short Interest Update

Welsbach Technology Metals Acquisition Corp. (NASDAQ:EMAT) was the target of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 593,183 shares, a growth of 69.7% from the July 30th total of 349,505 shares. Approximately 110.7% of the shares of the company are short sold. Based on an average trading volume of 611,037 shares, the days-to-cover ratio is presently 1.0 days.

Welsbach Technology Metals Acquisition Stock Performance

NASDAQ EMAT traded down $0.40 during trading hours on Tuesday, hitting $3.48. The company had a trading volume of 452,404 shares, compared to its average volume of 267,929. The firm has a market capitalization of $8.65 million and a price-to-earnings ratio of -86.88. Welsbach Technology Metals Acquisition has a 52 week low of $2.15 and a 52 week high of $24.08. The firm has a 50 day simple moving average of $4.55 and a 200 day simple moving average of $6.90.

Welsbach Technology Metals Acquisition (NASDAQ:EMAT) last released its quarterly earnings data on Monday, August 17th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $1.64 million during the quarter, compared to the consensus estimate of $2.10 million. On average, research analysts forecast that Welsbach Technology Metals Acquisition will post -0.77 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EMAT shares. Wall Street Zen raised shares of Welsbach Technology Metals Acquisition from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings lowered shares of Welsbach Technology Metals Acquisition from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 7th. Litchfield Hills Research began coverage on shares of Welsbach Technology Metals Acquisition in a research note on Tuesday, June 30th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Zacks Research raised shares of Welsbach Technology Metals Acquisition to a “hold” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Welsbach Technology Metals Acquisition currently has an average rating of “Moderate Buy” and an average target price of $12.00.

About Welsbach Technology Metals Acquisition

Welsbach Technology Metals Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on the technology metals and energy transition metals sectors. Welsbach Technology Metals Acquisition Corp. was incorporated in 2021 and is based in Lombard, Illinois.