Elmet Group (NASDAQ:ELMT) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Elmet Group Co. (NASDAQ:ELMT) shares passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $20.05 and traded as high as $22.40. Elmet Group shares last traded at $21.99, with a volume of 478,496 shares.

Wall Street Analyst Weigh In

ELMT has been the topic of a number of research analyst reports. Cantor Fitzgerald lifted their target price on Elmet Group from $20.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. Needham & Company LLC increased their target price on shares of Elmet Group from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, October 8th. Weiss Ratings upgraded Elmet Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, October 2nd. Canaccord Genuity Group boosted their target price on shares of Elmet Group from $21.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Finally, Roth Capital reiterated a “buy” rating and issued a $26.00 price target (up from $21.00) on shares of Elmet Group in a research note on Tuesday, September 15th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

Elmet Group Trading Up 12.1%

The firm’s fifty day simple moving average is $20.05. The firm has a market capitalization of $669.82 million and a price-to-earnings ratio of 53.63. The company has a quick ratio of 1.60, a current ratio of 3.03 and a debt-to-equity ratio of 0.04.

Elmet Group (NASDAQ:ELMT) last posted its quarterly earnings data on Monday, November 9th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.20. The business had revenue of $79.56 million during the quarter. During the same quarter in the previous year, the company posted $0.08 EPS. The business’s revenue for the quarter was up 55.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Elmet Group Co. will post 0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ELMT. Bangor Savings Bank acquired a new stake in shares of Elmet Group during the third quarter worth $48,741,000. Wellington Management Group LLP acquired a new position in Elmet Group in the 2nd quarter valued at $10,537,000. AWM Investment Company Inc. acquired a new position in Elmet Group in the 2nd quarter valued at $6,807,000. Skylands Capital LLC increased its stake in Elmet Group by 22.9% in the 3rd quarter. Skylands Capital LLC now owns 133,036 shares of the company’s stock valued at $2,655,000 after buying an additional 24,819 shares during the period. Finally, State Street Corp purchased a new position in Elmet Group during the 2nd quarter worth $2,640,000.

Elmet Group Company Profile

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.