Cemtrex (NASDAQ:CETX) Share Price Crosses Below Fifty Day Moving Average – Time to Sell?

Cemtrex Inc. (NASDAQ:CETX)’s stock price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.94 and traded as low as $2.13. Cemtrex shares last traded at $2.14, with a volume of 1,458,030 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cemtrex in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Cemtrex Trading Down 6.1%

The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53. The stock has a market cap of $18.40 million, a P/E ratio of -0.01 and a beta of 1.29. The business’s fifty day simple moving average is $2.94 and its 200 day simple moving average is $9.14.

Cemtrex (NASDAQ:CETX) last announced its earnings results on Monday, December 29th. The industrial products company reported ($35.68) earnings per share (EPS) for the quarter. Cemtrex had a negative return on equity of 524.31% and a negative net margin of 36.75%.The company had revenue of $18.53 million for the quarter.

Institutional Investors Weigh In On Cemtrex

A hedge fund recently bought a new stake in Cemtrex stock. Sabby Management LLC purchased a new stake in shares of Cemtrex Inc. (NASDAQ:CETX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,987 shares of the industrial products company’s stock, valued at approximately $141,000. Cemtrex accounts for about 0.2% of Sabby Management LLC’s portfolio, making the stock its 19th biggest holding. Sabby Management LLC owned about 3.38% of Cemtrex at the end of the most recent quarter. Institutional investors own 1.97% of the company’s stock.

Cemtrex Company Profile

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.