AWM Investment Company Inc. Takes $6.81 Million Position in Elmet Group Co. $ELMT

Key Points

• AWM Investment Company acquired 344,853 shares of Elmet Group worth approximately $6.81 million, giving it a 1.15% stake in the company.
• Elmet Group reported quarterly EPS of $0.18, beating estimates by $0.38, while revenue rose 35.2% year over year to $66.4 million.
• Analyst sentiment is moderately bullish, with four Buy, one Hold, and one Sell rating and an average price target of $20.75, compared with the stock’s $17.75 opening price.

AWM Investment Company Inc. bought a new stake in Elmet Group Co. (NASDAQ:ELMT - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 344,853 shares of the company's stock, valued at approximately $6,807,000. AWM Investment Company Inc. owned 1.15% of Elmet Group as of its most recent filing with the Securities & Exchange Commission.

Elmet Group Trading Up 0.5%

Shares of ELMT stock opened at $17.75 on Wednesday. The stock has a market capitalization of $540.66 million and a P/E ratio of 43.29. The company has a fifty day moving average price of $16.66. 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 Co. has a twelve month low of $12.48 and a twelve month high of $22.51.

Elmet Group (NASDAQ:ELMT - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of ($0.20) by $0.38. The business had revenue of $66.40 million during the quarter. The firm's quarterly revenue was up 35.2% on a year-over-year basis. Equities research analysts predict that Elmet Group Co. will post 0.53 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ELMT. Cantor Fitzgerald initiated coverage on shares of Elmet Group in a research note on Monday, May 18th. They issued an "overweight" rating and a $20.00 target price on the stock. Canaccord Genuity Group upped their price target on shares of Elmet Group from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, August 17th. Weiss Ratings assumed coverage on Elmet Group in a report on Monday, July 20th. They issued a "sell (e)" rating for the company. Roth Capital started coverage on Elmet Group in a research report on Monday, May 18th. They issued a "buy" rating and a $21.00 price objective on the stock. Finally, Wall Street Zen raised Elmet Group to a "hold" rating in a research report on Saturday, May 2nd. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $20.75.

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.

Want to see what other hedge funds are holding ELMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elmet Group Co. (NASDAQ:ELMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source