Elmet Group (NASDAQ:ELMT) Stock Price Down 7.1% - Should You Sell?

Key Points

• Elmet Group shares fell 7.1% to about $18.48 in Monday trading, with volume down 84% from the stock’s average daily level.
• Analyst sentiment remains generally positive: four analysts rate the stock Buy, one Hold, and one Sell, producing a consensus “Moderate Buy” rating and a $20.75 price target.
• The company reported $0.18 in quarterly EPS, beating estimates by $0.38, while revenue rose 35.2% year over year to $66.4 million; several institutional investors also initiated positions.

Elmet Group Co. (NASDAQ:ELMT - Get Free Report)'s share price was down 7.1% during trading on Monday . The company traded as low as $18.29 and last traded at $18.4840. Approximately 91,465 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 588,230 shares. The stock had previously closed at $19.89.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Weiss Ratings started coverage on shares of Elmet Group in a report on Monday, July 20th. They issued a "sell (e)" rating on the stock. Canaccord Genuity Group boosted their price target on Elmet Group from $20.00 to $21.00 and gave the company a "buy" rating in a report on Monday, August 17th. Needham & Company LLC initiated coverage on Elmet Group in a research note on Monday, May 18th. They set a "buy" rating and a $21.00 target price on the stock. Zacks Research upgraded shares of Elmet Group to a "hold" rating in a report on Tuesday, May 19th. Finally, Wall Street Zen upgraded Elmet Group to a "hold" rating in a report on Saturday, May 2nd. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Elmet Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.75.

Elmet Group Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 3.03 and a quick ratio of 1.60. The firm's 50-day simple moving average is $16.73. The stock has a market cap of $530.61 million and a PE ratio of 42.68.

Elmet Group (NASDAQ:ELMT - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.38. The firm had revenue of $66.40 million for the quarter. The firm's revenue for the quarter was up 35.2% compared to the same quarter last year. Analysts predict that Elmet Group Co. will post 0.53 earnings per share for the current year.

Institutional Trading of Elmet Group

Several large investors have recently added to or reduced their stakes in ELMT. California State Teachers Retirement System purchased a new position in Elmet Group during the second quarter valued at approximately $53,000. AWM Investment Company Inc. purchased a new position in Elmet Group during the second quarter worth approximately $6,807,000. Finally, Wellington Management Group LLP acquired a new stake in Elmet Group in the second quarter valued at approximately $10,537,000.

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.

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