Cantor Fitzgerald Issues Positive Forecast for Elmet Group (NASDAQ:ELMT) Stock Price

Elmet Group (NASDAQ:ELMT) had its price target raised by research analysts at Cantor Fitzgerald from $20.00 to $30.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald‘s target price points to a potential upside of 43.47% from the stock’s previous close.

Other analysts have also issued reports about the stock. Weiss Ratings raised shares of Elmet Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd. Canaccord Genuity Group boosted their target price on Elmet Group from $21.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Needham & Company LLC boosted their target price on Elmet Group from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, October 8th. Finally, Roth Capital reissued a “buy” rating and set a $26.00 price target (up from $21.00) on shares of Elmet Group in a research note on Tuesday, September 15th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Elmet Group has an average rating of “Moderate Buy” and a consensus target price of $27.50.

Elmet Group Price Performance

Shares of ELMT opened at $20.91 on Friday. The company has a fifty day moving average price of $19.14. The company has a current ratio of 3.03, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04. Elmet Group has a twelve month low of $12.48 and a twelve month high of $25.03.

Elmet Group (NASDAQ:ELMT) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.38. The firm had revenue of $66.40 million for the quarter. Elmet Group’s revenue was up 35.2% compared to the same quarter last year. On average, research analysts expect that Elmet Group will post 0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ELMT. Bangor Savings Bank purchased a new position in Elmet Group during the 3rd quarter worth $48,741,000. Wellington Management Group LLP purchased a new stake in shares of Elmet Group in the 2nd quarter worth $10,537,000. AWM Investment Company Inc. purchased a new stake in shares of Elmet Group in the 2nd quarter worth $6,807,000. Skylands Capital LLC grew its position in shares of Elmet Group by 22.9% during the 3rd quarter. Skylands Capital LLC now owns 133,036 shares of the company’s stock worth $2,655,000 after buying an additional 24,819 shares in the last quarter. Finally, State Street Corp bought a new position in shares of Elmet Group during the 2nd quarter worth $2,640,000.

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.