Welsbach Technology Metals Acquisition (NASDAQ:EMAT) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Welsbach Technology Metals Acquisition (NASDAQ:EMAT) from a hold rating to a sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other research firms have also recently weighed in on EMAT. Weiss Ratings cut shares of Welsbach Technology Metals Acquisition from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 7th. Litchfield Hills Research started coverage on Welsbach Technology Metals Acquisition in a research note on Tuesday, June 30th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Zacks Research upgraded Welsbach Technology Metals Acquisition to a “hold” rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.00.

Welsbach Technology Metals Acquisition Price Performance

Shares of EMAT stock opened at $3.20 on Friday. The company has a 50-day moving average of $3.50 and a two-hundred day moving average of $6.04. Welsbach Technology Metals Acquisition has a 1-year low of $2.15 and a 1-year high of $24.08.

Welsbach Technology Metals Acquisition (NASDAQ:EMAT) last released its quarterly earnings results on Monday, August 17th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $1.64 million during the quarter, compared to analysts’ expectations of $2.10 million. As a group, analysts expect that Welsbach Technology Metals Acquisition will post -0.77 EPS for the current year.

About Welsbach Technology Metals Acquisition

Welsbach Technology Metals Acquisition Corp. is a special purpose acquisition company (SPAC) organized to pursue a business combination with an operating company. Unlike a traditional industrial or mining company, it was established to raise capital through a public offering and use those funds, together with other financing, to acquire or merge with a target business.

The company’s stated focus is the technology metals sector, which includes businesses involved in critical and strategic minerals, metals exploration and production, processing, recycling, and related technologies.