Canaccord Genuity Group Begins Coverage on Elmet Group (NASDAQ:ELMT)

Investment analysts at Canaccord Genuity Group began coverage on shares of Elmet Group (NASDAQ:ELMT) in a research report issued on Monday,Benzinga reports. The firm set a “buy” rating and a $20.00 price target on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 29.45% from the company’s previous close.

Several other research analysts have also weighed in on ELMT. Needham & Company LLC assumed coverage on shares of Elmet Group in a research note on Monday. They set a “buy” rating and a $21.00 price objective on the stock. Wall Street Zen upgraded shares of Elmet Group to a “hold” rating in a research note on Saturday, May 2nd. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Elmet Group currently has an average rating of “Buy” and an average target price of $20.50.

Elmet Group Stock Performance

Elmet Group stock opened at $15.45 on Monday. Elmet Group has a fifty-two week low of $14.69 and a fifty-two week high of $22.25.

Insiders Place Their Bets

In other news, Director Kathie Merrill Leonard acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were purchased at an average cost of $14.00 per share, with a total value of $70,000.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at $70,000. This represents a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kimberly Monzeglio Anania acquired 7,000 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The stock was purchased 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 in the company, valued at approximately $98,000. This represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

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.