Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price1.43 USD
Fair value0.71
Ethical score70.0/100
Our investment reviews on this name
2026-10-18Read Markdown1.42+0.4% to today Distribution gives way to Markdown after a 19% slide in 7 days
2026-10-11Read Distribution1.75-18.3% to today ✓Markdown gives way to Distribution after a 49% slide in 9 days
2026-10-02Read Markdown3.43-58.3% to today ✓Distribution gives way to Markdown after a 52% rise in 5 weeks
2026-08-27Read Distribution2.26-36.7% to today ✓Markdown gives way to Distribution after a 67% slide in 8 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Evolution Metals & Technologies Corp holds its Markdown at $1.43. The statistical read favours the sellers, held for 14 days.
As held on the ledger · 2026-10-23
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 14 days
Price at the screen
$1.43
Valuation
N/A trailing · 28.60 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.15
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
78.13%
Below 33%
Interest-bearing debt is 78.1% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
0.06%
Below 49%
Money owed to the company is 0.1% of assets, under the 49% limit.
Pass
Revenue purity
7.87%
Below 5%
7.9% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Evolution Metals & Technologies's business is in a permissible area, but its interest-bearing debt is about 78% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when EMAT's ethical verdict changes
Today EMAT does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
Free, no account needed. Every email has a link to stop.
Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. The price runs 50.0% above the base estimate.
Third-party analyst targets: 2 covering, consensus Strong Buy. The average target sits +477% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Rare earth supply chains face a value trap
Picture a Florida startup promising to cut China out of magnets and battery metals. The pitch lands because the world needs those materials, yet Evolution Metals & Technologies shows zero profit margin and a weak moat in a brutally cyclical sector. Our fair value sits above the current price, but the opportunity rating stays at none.
The single analyst target looks ambitious next to the actual numbers. In basic materials the cheap multiple often signals peak earnings rather than a bargain, and here the lack of any margin makes that trap even clearer. Ethical screens clear the name, yet that alone does not create durable economics.
Risk sits in execution and commodity swings that have already flattened similar hopefuls. One bad cycle or delayed offtake contract can wipe out the apparent margin of safety fast. Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
EMAT trades on NASDAQ. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-18Markdown · changed$1.42-18.6%Entry 8
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 18.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading bearish. Our forward projection puts the odds of a 10% gain over the next month near 16%.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 49.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading bearish. Our forward projection puts the odds of a 10% gain over the next month near 16%. Since the last review it dropped out of the Titan Ethical 500; its quality tier slipped to Avoid; its composite score eased.
2026-10-02Markdown · changed$3.43+51.8%Entry 6
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 51.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading bearish. Our forward projection puts the odds of a 10% gain over the next month near 16%. Since the last review it dropped out of the Titan Ethical 500; its quality tier slipped to Watch; its composite score eased.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 54.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading bearish. Our forward projection puts the odds of a 10% gain over the next month near 16%.
2026-07-27Markdown$4.99-26.7%Entry 4
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 26.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading bearish. Our forward projection puts the odds of a 10% gain over the next month near 16%.
2026-07-18Markdown$6.81+0.0%Entry 3
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading bearish. Our forward projection puts the odds of a 10% gain over the next month near 16%.
2026-07-03Markdown$6.81+0.0%Entry 2
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Markdown$6.81Entry 1
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.