Elmet Group (NASDAQ:ELMT) Stock Price Down 9.7% – What’s Next?

Elmet Group Co. (NASDAQ:ELMT) shares fell 9.7% on Wednesday . The company traded as low as $19.67 and last traded at $19.95. 724,462 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 792,782 shares. The stock had previously closed at $22.09.

Analysts Set New Price Targets

A number of research firms have weighed in on ELMT. Roth Mkm began coverage on Elmet Group in a research report on Monday, May 18th. They issued 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. Canaccord Genuity Group began coverage on Elmet Group in a research report on Monday, May 18th. They issued a “buy” rating and a $20.00 target price for the company. Needham & Company LLC began coverage on Elmet Group in a research report on Monday, May 18th. They issued a “buy” rating and a $21.00 target price for the company. Finally, Zacks Research upgraded Elmet Group to a “hold” rating in a research report on Tuesday, May 19th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Elmet Group Trading Down 10.1%

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

Insiders Place Their Bets

In related news, Director Kimberly Monzeglio Anania acquired 7,000 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The stock was bought at an average price of $14.00 per share, for a total transaction of $98,000.00. Following the transaction, the director owned 7,000 shares of the company’s stock, valued at approximately $98,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathie Merrill Leonard bought 5,000 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were purchased at an average cost of $14.00 per share, for a total transaction of $70,000.00. Following the completion of the purchase, the director owned 5,000 shares in the company, valued at approximately $70,000. This trade 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.