Robertson Stephens Wealth Management LLC Buys New Holdings in Welsbach Technology Metals Acquisition Corp. $EMAT

Robertson Stephens Wealth Management LLC bought a new position in shares of Welsbach Technology Metals Acquisition Corp. (NASDAQ:EMAT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,933,443 shares of the company’s stock, valued at approximately $7,480,000. Robertson Stephens Wealth Management LLC owned about 117.81% of Welsbach Technology Metals Acquisition at the end of the most recent quarter.

Analyst Ratings Changes

Several research firms have commented on EMAT. Wall Street Zen downgraded shares of Welsbach Technology Metals Acquisition from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. Weiss Ratings lowered 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 assumed coverage on shares of Welsbach Technology Metals Acquisition in a research note on Tuesday, June 30th. They set a “buy” rating and a $12.00 target price for the company. Finally, Zacks Research upgraded shares of Welsbach Technology Metals Acquisition to a “hold” rating in a research note on Wednesday, July 1st. One investment 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Welsbach Technology Metals Acquisition Price Performance

Shares of NASDAQ:EMAT opened at $1.54 on Friday. Welsbach Technology Metals Acquisition Corp. has a 12-month low of $1.28 and a 12-month high of $24.09. The stock has a market cap of $3.83 million and a PE ratio of -38.50. The business has a 50 day moving average of $2.88 and a 200-day moving average of $5.53.

Welsbach Technology Metals Acquisition (NASDAQ:EMAT) last posted its earnings results on Monday, August 17th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. The firm had revenue of $1.64 million during the quarter, compared to analyst estimates of $2.10 million. Equities research analysts expect that Welsbach Technology Metals Acquisition Corp. will post -0.78 earnings per share for the current year.

Welsbach Technology Metals Acquisition Profile

Welsbach Technology Metals Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. The company’s stated focus is on businesses involved in technology metals and related sectors, including companies connected to the materials and mineral supply chains supporting advanced technologies and the energy transition.

Unlike an operating mining or manufacturing company, Welsbach Technology Metals Acquisition Corp.