Elmet Group (NASDAQ:ELMT) Announces Quarterly Earnings Results

Elmet Group (NASDAQ:ELMT) issued its earnings results on Friday. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.41, Zacks reports.

Elmet Group Stock Up 4.1%

NASDAQ:ELMT opened at $16.20 on Friday. Elmet Group has a 52 week low of $13.38 and a 52 week high of $22.25.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Elmet Group news, Director Kimberly Monzeglio Anania acquired 7,000 shares of the stock in a transaction dated Wednesday, April 22nd. The stock was purchased at an average price of $14.00 per share, with a total value of $98,000.00. Following 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathie Merrill Leonard bought 5,000 shares of Elmet Group stock in a transaction that occurred on Wednesday, April 22nd. The shares were acquired at an average cost of $14.00 per share, for a total transaction of $70,000.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at $70,000. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

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.