Elmet Group (NASDAQ:ELMT) Releases Earnings Results, Beats Estimates By $0.41 EPS

Elmet Group (NASDAQ:ELMT) released its quarterly earnings results on Friday. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.41, Zacks reports.

Elmet Group Stock Up 4.1%

NASDAQ:ELMT opened at $16.20 on Friday. Elmet Group has a 52 week low of $13.38 and a 52 week high of $22.25.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ELMT shares. Canaccord Genuity Group started coverage on Elmet Group in a research report on Monday, May 18th. They set a “buy” rating and a $20.00 target price on the stock. Roth Mkm started coverage on Elmet Group in a research report on Monday, May 18th. They set a “buy” rating and a $21.00 target price on the stock. Needham & Company LLC started coverage on Elmet Group in a research report on Monday, May 18th. They set a “buy” rating and a $21.00 target price on the stock. Wall Street Zen upgraded Elmet Group to a “hold” rating in a research report on Saturday, May 2nd. Finally, Cantor Fitzgerald started coverage on Elmet Group in a research report on Monday, May 18th. They set an “overweight” rating and a $20.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Elmet Group currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Insider Transactions at Elmet Group

In other Elmet Group news, Director Kathie Merrill Leonard purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were acquired at an average cost of $14.00 per share, with a total value of $70,000.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at $70,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kimberly Monzeglio Anania purchased 7,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were acquired at an average cost of $14.00 per share, for a total transaction of $98,000.00. Following the completion of the acquisition, the director owned 7,000 shares of the company’s stock, valued at approximately $98,000. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

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.