Elmet Group (NASDAQ:ELMT) Earns Buy Rating from Analysts at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Elmet Group (NASDAQ:ELMT) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set a “buy” rating and a $20.00 price target on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 29.45% from the stock’s current price.

ELMT has been the topic of several other research reports. Needham & Company LLC assumed coverage on shares of Elmet Group in a research report on Monday. They set a “buy” rating and a $21.00 price target on the stock. Wall Street Zen raised Elmet Group to a “hold” rating in a research note on Saturday, May 2nd. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Elmet Group currently has an average rating of “Buy” and a consensus price target of $20.50.

Elmet Group Stock Performance

NASDAQ ELMT opened at $15.45 on Monday. Elmet Group has a 1 year low of $14.69 and a 1 year high of $22.25.

Insider Buying and Selling

In related news, Director Kimberly Monzeglio Anania bought 7,000 shares of the business’s stock in a transaction on Wednesday, April 22nd. The shares were purchased at an average price of $14.00 per share, for a total transaction of $98,000.00. Following the completion of the transaction, the director directly owned 7,000 shares of the company’s stock, valued at approximately $98,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kathie Merrill Leonard bought 5,000 shares of the business’s stock in a transaction on Wednesday, April 22nd. The stock was bought at an average price of $14.00 per share, for a total transaction of $70,000.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $70,000. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

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.