Elmet Group (NASDAQ:ELMT) Posts Quarterly Earnings Results, Beats Expectations By $0.41 EPS

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

Elmet Group Price Performance

ELMT opened at $16.20 on Friday. Elmet Group has a one year low of $13.38 and a one year high of $22.25.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ELMT. Wall Street Zen raised Elmet Group to a “hold” rating in a research note on Saturday, May 2nd. Zacks Research raised Elmet Group to a “hold” rating in a research note on Tuesday, May 19th. Canaccord Genuity Group began coverage on Elmet Group in a research note on Monday, May 18th. They issued a “buy” rating and a $20.00 price objective for the company. Roth Mkm began coverage on Elmet Group in a research note on Monday, May 18th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Needham & Company LLC began coverage on Elmet Group in a research note on Monday, May 18th. They issued a “buy” rating and a $21.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Elmet Group currently has an average rating of “Moderate Buy” and an average price target of $20.50.

Insider Buying and Selling

In other Elmet Group news, Director Kimberly Monzeglio Anania bought 7,000 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The shares were purchased at an average price of $14.00 per share, with a total value of $98,000.00. Following the completion of the purchase, the director owned 7,000 shares in the company, valued at $98,000. This represents a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kathie Merrill Leonard bought 5,000 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The shares were acquired at an average cost of $14.00 per share, for a total transaction of $70,000.00. Following the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $70,000. The trade was a ? increase in their position. 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.