Elmet Group (NASDAQ:ELMT) Shares Down 7.1% – Time to Sell?

Elmet Group Co. (NASDAQ:ELMT)’s stock price was down 7.1% during trading on Monday . The stock traded as low as $18.29 and last traded at $18.4840. Approximately 91,465 shares traded hands during trading, a decline of 84% from the average session volume of 588,230 shares. The stock had previously closed at $19.89.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Canaccord Genuity Group increased their target price on shares of Elmet Group from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Roth Capital began coverage on shares of Elmet Group in a research note on Monday, May 18th. They set a “buy” rating and a $21.00 price objective for the company. Wall Street Zen upgraded Elmet Group to a “hold” rating in a report on Saturday, May 2nd. Cantor Fitzgerald started coverage on Elmet Group in a report on Monday, May 18th. They issued an “overweight” rating and a $20.00 price target for the company. Finally, Weiss Ratings assumed coverage on Elmet Group in a research report on Monday, July 20th. They set a “sell (e)” rating on the stock. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.75.

Elmet Group Stock Down 12.4%

The company has a market capitalization of $530.61 million and a P/E ratio of 42.68. The stock’s 50-day moving average price is $16.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 3.03.

Elmet Group (NASDAQ:ELMT) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.38. The company had revenue of $66.40 million during the quarter. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. On average, sell-side analysts expect that Elmet Group Co. will post 0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Elmet Group

Several hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System purchased a new stake in Elmet Group during the 2nd quarter worth approximately $53,000. AWM Investment Company Inc. purchased a new stake in shares of Elmet Group during the second quarter worth $6,807,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Elmet Group during the second quarter worth $10,537,000.

About Elmet Group

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.