Elmet Group Co. (NASDAQ:ELMT) Sees Significant Growth in Short Interest

Elmet Group Co. (NASDAQ:ELMT) was the recipient of a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 1,009,710 shares, an increase of ∞ from the April 15th total of 0 shares. Based on an average daily volume of 1,346,740 shares, the short-interest ratio is presently 0.7 days. Currently, 3.5% of the company’s shares are short sold.

Insider Transactions at Elmet Group

In other news, Director Kimberly Monzeglio Anania purchased 7,000 shares of the company’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 $98,000.00. Following the purchase, the director owned 7,000 shares in the company, valued at approximately $98,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathie Merrill Leonard acquired 5,000 shares of the stock in a transaction on Wednesday, April 22nd. The stock was bought at an average cost 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 in the company, valued at $70,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Elmet Group to a “hold” rating in a research report on Saturday, May 2nd.

Elmet Group Price Performance

Elmet Group stock traded down $0.69 during trading hours on Friday, hitting $15.45. The company had a trading volume of 282,033 shares, compared to its average volume of 632,789. Elmet Group has a 1 year low of $14.69 and a 1 year high of $22.25.

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.