Welsbach Technology Metals Acquisition (NASDAQ:EMAT) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Welsbach Technology Metals Acquisition (NASDAQ:EMAT) announced its quarterly earnings data on Monday. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01, Zacks reports.

Welsbach Technology Metals Acquisition Trading Down 7.9%

NASDAQ EMAT opened at $2.79 on Tuesday. The stock has a fifty day simple moving average of $5.26 and a 200-day simple moving average of $7.13. Welsbach Technology Metals Acquisition has a twelve month low of $2.15 and a twelve month high of $24.08.

Analyst Ratings Changes

Several brokerages have issued reports on EMAT. Weiss Ratings cut Welsbach Technology Metals Acquisition from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 7th. Zacks Research upgraded Welsbach Technology Metals Acquisition to a “hold” rating in a report on Wednesday, July 1st. Wall Street Zen cut shares of Welsbach Technology Metals Acquisition from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Litchfield Hills Research began coverage on shares of Welsbach Technology Metals Acquisition in a research report on Tuesday, June 30th. They set a “buy” rating and a $12.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Welsbach Technology Metals Acquisition currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Welsbach Technology Metals Acquisition Company Profile

Welsbach Technology Metals Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on the technology metals and energy transition metals sectors. Welsbach Technology Metals Acquisition Corp. was incorporated in 2021 and is based in Lombard, Illinois.