Elmet Group (NASDAQ:ELMT) Stock Price Down 9.7% – What’s Next?

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

Analyst Upgrades and Downgrades

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

Elmet Group Stock Performance

Elmet Group (NASDAQ:ELMT) last issued its quarterly earnings data on Friday, May 29th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 Activity at Elmet Group

In other Elmet Group news, Director Kimberly Monzeglio Anania acquired 7,000 shares of Elmet Group stock in a transaction dated Wednesday, April 22nd. The stock was acquired at an average cost of $14.00 per share, for a total transaction of $98,000.00. Following the completion of the transaction, the director owned 7,000 shares in the company, valued at approximately $98,000. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kathie Merrill Leonard acquired 5,000 shares of Elmet Group stock in a transaction dated Wednesday, April 22nd. The shares were acquired at an average price of $14.00 per share, with a total value of $70,000.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $70,000. This trade represents a ? increase in their position. The SEC filing for this purchase provides additional information.

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.