Elmet Group (NASDAQ:ELMT) Stock Price Up 10.5% – Time to Buy?

Elmet Group Co. (NASDAQ:ELMT) was up 10.5% during trading on Friday . The company traded as high as $18.42 and last traded at $18.42. 488,990 shares changed hands during trading, a decline of 15% from the average daily volume of 578,104 shares. The stock had previously closed at $16.67.

Wall Street Analyst Weigh In

ELMT has been the topic of several recent analyst reports. Canaccord Genuity Group increased their price objective on shares of Elmet Group from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Needham & Company LLC started coverage on shares of Elmet Group in a research report on Monday, May 18th. They set a “buy” rating and a $21.00 price target for the company. Wall Street Zen raised shares of Elmet Group to a “hold” rating in a research note on Saturday, May 2nd. Zacks Research upgraded shares of Elmet Group to a “hold” rating in a report on Tuesday, May 19th. Finally, Cantor Fitzgerald initiated coverage on shares of Elmet Group in a research note on Monday, May 18th. They set an “overweight” rating and a $20.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.75.

Elmet Group Trading Up 19.3%

The company has a current ratio of 3.03, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $605.85 million and a PE ratio of 48.51. The business has a 50 day simple moving average of $16.73.

Elmet Group (NASDAQ:ELMT) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.38. The firm had revenue of $66.40 million during the quarter. Elmet Group’s revenue was up 35.2% compared to the same quarter last year. As a group, analysts forecast that Elmet Group Co. will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Elmet Group stock. AWM Investment Company Inc. acquired a new stake in shares of Elmet Group Co. (NASDAQ:ELMT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 344,853 shares of the company’s stock, valued at approximately $6,807,000. AWM Investment Company Inc. owned approximately 1.15% of Elmet Group as of its most recent SEC filing.

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.