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 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. Based on an average daily trading volume, of 611,037 shares, the days-to-cover ratio is currently 1.0 days. Currently, 110.7% of the shares of the stock are sold short.

Welsbach Technology Metals Acquisition Price Performance

Welsbach Technology Metals Acquisition stock opened at $3.52 on Wednesday. Welsbach Technology Metals Acquisition has a fifty-two week low of $2.15 and a fifty-two week high of $24.08. The stock has a fifty day moving average of $4.48 and a two-hundred day moving average of $6.87.

Welsbach Technology Metals Acquisition (NASDAQ:EMAT) last issued its quarterly earnings data on Monday, August 17th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate 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 predict that Welsbach Technology Metals Acquisition will post -0.77 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on EMAT. 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. Zacks Research upgraded shares of Welsbach Technology Metals Acquisition to a “hold” rating in a report on Wednesday, July 1st. Wall Street Zen upgraded shares of Welsbach Technology Metals Acquisition from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Litchfield Hills Research initiated coverage on shares of Welsbach Technology Metals Acquisition in a report on Tuesday, June 30th. They issued a “buy” rating and a $12.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

About Welsbach Technology Metals Acquisition

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.