Welsbach Technology Metals Acquisition Corp. (NASDAQ:EMAT) Short Interest Update

Welsbach Technology Metals Acquisition Corp. (NASDAQ:EMAT) was the target of a significant growth in short interest in August. As of August 14th, there was short interest totaling 593,183 shares, a growth of 69.7% from the July 30th total of 349,505 shares. Currently, 110.7% of the shares of the stock are short sold. Based on an average daily volume of 611,037 shares, the short-interest ratio is presently 1.0 days.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EMAT shares. Litchfield Hills Research initiated coverage on shares of 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. Wall Street Zen raised Welsbach Technology Metals Acquisition from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings cut Welsbach Technology Metals Acquisition from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 7th. Finally, Zacks Research upgraded shares of Welsbach Technology Metals Acquisition to a “hold” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Welsbach Technology Metals Acquisition presently has an average rating of “Moderate Buy” and an average price target of $12.00.

Welsbach Technology Metals Acquisition Stock Performance

NASDAQ EMAT traded up $0.60 on Monday, reaching $3.87. The stock had a trading volume of 1,334,886 shares, compared to its average volume of 266,797. The stock has a market cap of $9.64 million and a P/E ratio of -96.75. The business’s 50-day moving average price is $4.61 and its 200 day moving average price is $6.92. Welsbach Technology Metals Acquisition has a 12-month low of $2.15 and a 12-month high of $24.08.

Welsbach Technology Metals Acquisition (NASDAQ:EMAT) last posted its quarterly earnings data on Monday, August 17th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $1.64 million during the quarter, compared to analyst estimates of $2.10 million. On average, sell-side analysts predict that Welsbach Technology Metals Acquisition will post -0.77 earnings per share for the current year.

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.