Elmet Group (NASDAQ:ELMT) Trading 8.7% Higher – Should You Buy?

Elmet Group Co. (NASDAQ:ELMT)’s share price shot up 8.7% during trading on Friday . The company traded as high as $20.88 and last traded at $21.1250. 100,033 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 753,346 shares. The stock had previously closed at $19.43.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ELMT shares. Roth Mkm started coverage on Elmet Group in a report on Monday, May 18th. They set a “buy” rating and a $21.00 target price on the stock. Cantor Fitzgerald started coverage on Elmet Group in a report on Monday, May 18th. They set an “overweight” rating and a $20.00 target price on the stock. Canaccord Genuity Group started coverage on Elmet Group in a report on Monday, May 18th. They set a “buy” rating and a $20.00 target price on the stock. Zacks Research upgraded Elmet Group to a “hold” rating in a report on Tuesday, May 19th. Finally, Wall Street Zen upgraded Elmet Group to a “hold” rating in a report on Saturday, May 2nd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Elmet Group has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Elmet Group Trading Up 10.2%

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

Insider Buying and Selling

In other Elmet Group news, Director Kimberly Monzeglio Anania purchased 7,000 shares of the stock in a transaction on Wednesday, April 22nd. The shares were purchased at an average price of $14.00 per share, with a total value of $98,000.00. Following the completion of the transaction, the director directly owned 7,000 shares in the company, 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 bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was purchased at an average cost of $14.00 per share, for a total transaction of $70,000.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $70,000. The trade was a ∞ increase in their position. 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.