Elmet Group (NASDAQ:ELMT) Trading Down 9.7% – Should You Sell?

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ELMT shares. Needham & Company LLC started 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. Roth Mkm started 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. Wall Street Zen raised shares of Elmet Group to a “hold” rating in a research note on Saturday, May 2nd. 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. Finally, Zacks Research raised shares of Elmet Group to a “hold” rating in a research note on Tuesday, May 19th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Elmet Group has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Elmet Group Stock Performance

Elmet Group (NASDAQ:ELMT) last announced its quarterly earnings data on Friday, May 29th. The company reported $0.23 earnings per share 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 analysts’ expectations of $52.77 million.

Insiders Place Their Bets

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

Elmet Group Company Profile

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.