Welsbach Technology Metals Acquisition Corp. (NASDAQ:EMAT) Sees Significant Increase in Short Interest

Welsbach Technology Metals Acquisition Corp. (NASDAQ:EMAT) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 3,918,564 shares, a growth of 83.0% from the September 30th total of 2,141,802 shares. Currently, 731.1% of the shares of the stock are short sold. Based on an average trading volume of 1,953,967 shares, the short-interest ratio is currently 2.0 days.

Analyst Ratings Changes

Several brokerages recently weighed in on EMAT. Weiss Ratings cut shares of Welsbach Technology Metals Acquisition from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 7th. Wall Street Zen lowered shares of Welsbach Technology Metals Acquisition from a “hold” rating to a “sell” rating in a research report on Saturday, September 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Welsbach Technology Metals Acquisition currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Welsbach Technology Metals Acquisition Stock Performance

EMAT stock traded down $0.03 during midday trading on Friday, reaching $1.65. 488,447 shares of the company traded hands, compared to its average volume of 1,323,757. Welsbach Technology Metals Acquisition has a 52-week low of $1.28 and a 52-week high of $24.09. The business has a 50 day moving average of $2.63 and a 200-day moving average of $5.86. The firm has a market capitalization of $4.11 million and a price-to-earnings ratio of -41.25.

Welsbach Technology Metals Acquisition (NASDAQ:EMAT) last announced its earnings results on Monday, August 17th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $1.64 million during the quarter, compared to analysts’ expectations of $2.10 million. Research analysts anticipate that Welsbach Technology Metals Acquisition will post -0.78 earnings per share for the current year.

Institutional Investors Weigh In On Welsbach Technology Metals Acquisition

A hedge fund recently bought a new stake in Welsbach Technology Metals Acquisition stock. Robertson Stephens Wealth Management LLC purchased a new position in shares of Welsbach Technology Metals Acquisition Corp. (NASDAQ:EMAT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,933,443 shares of the company’s stock, valued at approximately $7,480,000. Robertson Stephens Wealth Management LLC owned 117.81% of Welsbach Technology Metals Acquisition at the end of the most recent quarter. Institutional investors own 48.61% of the company’s stock.

About Welsbach Technology Metals Acquisition

Welsbach Technology Metals Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with a company operating in the technology metals sector. Its focus is on businesses involved in the exploration, mining, processing, refining, recycling or development of metals that support advanced industrial and technology applications.

Unlike an operating mining or materials company, Welsbach Technology Metals Acquisition Corp. does not appear to have established commercial products, mining properties or operating revenue of its own.