Elmet Group Co. (ELMT) – What Are Researchers Saying About This Stock?

Shares of Elmet Group Co. (NASDAQ:ELMT) have been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $25.00.

Several research firms recently commented on ELMT. Roth Capital reaffirmed a “buy” rating and set a $26.00 price objective (up from $21.00) on shares of Elmet Group in a research report on Tuesday, September 15th. Needham & Company LLC lifted their price objective on Elmet Group from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 8th. Canaccord Genuity Group boosted their target price on Elmet Group from $21.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Finally, Weiss Ratings raised Elmet Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd.

Institutional Trading of Elmet Group

A number of large investors have recently made changes to their positions in ELMT. Bangor Savings Bank bought a new stake in shares of Elmet Group in the third quarter worth approximately $48,741,000. Wellington Management Group LLP purchased a new position in shares of Elmet Group during the second quarter valued at approximately $10,537,000. AWM Investment Company Inc. bought a new position in Elmet Group during the second quarter valued at approximately $6,807,000. State Street Corp bought a new position in Elmet Group during the second quarter valued at approximately $2,640,000. Finally, Squarepoint Ops LLC bought a new position in Elmet Group during the second quarter valued at approximately $2,560,000.

Elmet Group Trading Down 2.9%

Elmet Group stock opened at $18.93 on Friday. The company has a market cap of $576.61 million and a price-to-earnings ratio of 46.17. The business has a fifty day simple moving average of $18.88. Elmet Group has a 12 month low of $12.48 and a 12 month high of $25.03. The company has a current ratio of 3.03, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04.

Elmet Group (NASDAQ:ELMT) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.38. The business had revenue of $66.40 million during the quarter. Elmet Group’s revenue was up 35.2% on a year-over-year basis. On average, equities research analysts forecast that Elmet Group will post 0.72 EPS for the current fiscal year.

About Elmet Group

Elmet Group, Inc is a blank check company, also known as a special purpose acquisition company (SPAC). Its primary objective is to identify and complete a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more operating businesses.

Because Elmet Group was formed to pursue a business combination, it does not currently operate as a traditional company with established products, services or revenue-generating business segments.