Welsbach Technology Metals Acquisition (NASDAQ:EMAT) Releases Earnings Results, Beats Estimates By $0.01 EPS

Welsbach Technology Metals Acquisition (NASDAQ:EMAT) issued its earnings results on Monday. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01, Zacks reports.

Welsbach Technology Metals Acquisition Stock Performance

Shares of Welsbach Technology Metals Acquisition stock opened at $3.03 on Monday. The company has a fifty day simple moving average of $5.33 and a 200-day simple moving average of $7.16. The stock has a market cap of $7.54 million and a price-to-earnings ratio of -151.50. Welsbach Technology Metals Acquisition has a 12-month low of $2.15 and a 12-month high of $24.08.

Analyst Ratings Changes

A number of analysts have weighed in on EMAT shares. Zacks Research upgraded Welsbach Technology Metals Acquisition to a “hold” rating in a research note on Wednesday, July 1st. Litchfield Hills Research assumed coverage on Welsbach Technology Metals Acquisition in a research report on Tuesday, June 30th. They set a “buy” rating and a $12.00 price objective for the company. Weiss Ratings downgraded Welsbach Technology Metals Acquisition from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 7th. Finally, Wall Street Zen lowered Welsbach Technology Metals Acquisition from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Welsbach Technology Metals Acquisition currently has an average 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.