Short Interest in Welsbach Technology Metals Acquisition Corp. (NASDAQ:EMAT) Increases By 69.7%

Welsbach Technology Metals Acquisition Corp. (NASDAQ:EMAT) was the recipient of a significant increase in short interest in August. As of August 14th, there was short interest totaling 593,183 shares, an increase of 69.7% from the July 30th total of 349,505 shares. Currently, 110.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 611,037 shares, the short-interest ratio is currently 1.0 days.

Wall Street Analyst Weigh In

EMAT has been the topic of several research reports. Zacks Research raised Welsbach Technology Metals Acquisition to a “hold” rating in a report on Wednesday, July 1st. Litchfield Hills Research assumed coverage on Welsbach Technology Metals Acquisition in a research note on Tuesday, June 30th. They set a “buy” rating and a $12.00 price target for the company. 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. Finally, Wall Street Zen raised shares of Welsbach Technology Metals Acquisition from a “sell” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Welsbach Technology Metals Acquisition currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Welsbach Technology Metals Acquisition Stock Up 18.3%

Shares of NASDAQ:EMAT traded up $0.60 during midday trading on Monday, reaching $3.87. The company’s stock had a trading volume of 1,334,886 shares, compared to its average volume of 266,797. The firm has a market cap of $9.64 million and a price-to-earnings ratio of -96.75. Welsbach Technology Metals Acquisition has a 1 year low of $2.15 and a 1 year high of $24.08. The business has a 50 day moving average price of $4.61 and a 200 day moving average price of $6.92.

Welsbach Technology Metals Acquisition (NASDAQ:EMAT) last announced its quarterly earnings data on Monday, August 17th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. The company had revenue of $1.64 million for the quarter, compared to analysts’ expectations of $2.10 million. Sell-side analysts anticipate that Welsbach Technology Metals Acquisition will post -0.77 earnings per share for the current fiscal year.

Welsbach Technology Metals Acquisition Company Profile

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.