Cemtrex Inc. (NASDAQ:CETX – Get Free Report) shares crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.93 and traded as high as $0.96. Cemtrex shares last traded at $0.9310, with a volume of 217,861 shares changing hands.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised Cemtrex from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.
Check Out Our Latest Report on Cemtrex
Cemtrex Price Performance
Cemtrex (NASDAQ:CETX – Get Free Report) last released its earnings results on Friday, May 15th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($308,700.00) by $308,700.11. Cemtrex had a negative return on equity of 142.99% and a negative net margin of 39.63%.The company had revenue of $18.06 million for the quarter, compared to analysts’ expectations of $8.29 million.
Institutional Investors Weigh In On Cemtrex
Institutional investors and hedge funds have recently modified their holdings of the company. Sabby Management LLC acquired a new stake in shares of Cemtrex in the 3rd quarter worth approximately $141,000. Millennium Management LLC acquired a new stake in shares of Cemtrex in the 4th quarter worth approximately $70,000. Engineers Gate Manager LP acquired a new stake in shares of Cemtrex in the 4th quarter worth approximately $115,000. Jane Street Group LLC acquired a new stake in shares of Cemtrex in the 4th quarter worth approximately $186,000. Finally, Daytona Street Capital LLC acquired a new stake in shares of Cemtrex in the 4th quarter worth approximately $5,456,000. Institutional investors and hedge funds own 1.97% of the company’s stock.
About Cemtrex
Cemtrex, Inc is an industrial technology company that develops and manufactures advanced electronics, automation systems and digital transformation solutions for a broad range of markets. Headquartered in New York, the company focuses on integrating hardware, software and connectivity to streamline industrial processes and enhance operational efficiency. Its core competencies include precision electronics assembly, automated manufacturing platforms and custom-engineered equipment for clients in transportation, energy and critical infrastructure sectors.
Through its Industrial Technologies segment, Cemtrex provides turn-key electronics manufacturing services, precision machining and robotic process automation.
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