Elmet Group (NASDAQ:ELMT) Sets New 52-Week High – Time to Buy?

Elmet Group Co. (NASDAQ:ELMT)’s stock price hit a new 52-week high on Saturday . The stock traded as high as $22.51 and last traded at $20.44, with a volume of 841812 shares trading hands. The stock had previously closed at $19.43.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ELMT. Needham & Company LLC began coverage on Elmet Group in a research note on Monday, May 18th. They set a “buy” rating and a $21.00 target price on the stock. Cantor Fitzgerald began coverage on Elmet Group in a research note on Monday, May 18th. They set an “overweight” rating and a $20.00 target price on the stock. Wall Street Zen upgraded Elmet Group to a “hold” rating in a research note on Saturday, May 2nd. Zacks Research upgraded Elmet Group to a “hold” rating in a research note on Tuesday, May 19th. Finally, Canaccord Genuity Group began coverage on Elmet Group in a research note on Monday, May 18th. They set a “buy” rating and a $20.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Elmet Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Elmet Group Price Performance

Elmet Group (NASDAQ:ELMT) last released its earnings results on Friday, May 29th. The company reported $0.23 EPS 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 the consensus estimate of $52.77 million.

Insider Activity

In other news, Director Kimberly Monzeglio Anania acquired 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was bought at an average price of $14.00 per share, with a total value of $98,000.00. Following the acquisition, the director owned 7,000 shares in the company, valued at $98,000. The trade was a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kathie Merrill Leonard acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was purchased at an average cost of $14.00 per share, with a total value of $70,000.00. Following the acquisition, the director owned 5,000 shares in the company, valued at $70,000. The trade was a ? increase in their position. The SEC filing for this purchase provides additional information.

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.