Arotech Corp. (NASDAQ:ARTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Arotech Corporation operates two business divisions: Electric Fuel Batteries — developing and manufacturing zinc-air batteries for military and homeland security applications and developing electric vehicle batteries for zero emission public transportation; and Arotech Defense — consisting of IES Interactive, which provides advanced high-tech multimedia training systems for law enforcement and paramilitary organizations, MDT Armor, which provides vehicle armoring for the military, industrial and private sectors, and Arcon Security. “
Several other equities analysts have also recently commented on ARTX. B. Riley reiterated a “buy” rating and set a $4.50 target price on shares of Arotech Corp. in a research note on Thursday, August 4th. TheStreet upgraded shares of Arotech Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 7th.
Shares of Arotech Corp. (NASDAQ:ARTX) opened at 3.21 on Tuesday. The company’s market capitalization is $81.48 million. The company has a 50-day moving average of $2.99 and a 200 day moving average of $2.95. Arotech Corp. has a 12 month low of $1.32 and a 12 month high of $4.13.
Arotech Corp. (NASDAQ:ARTX) last released its earnings results on Monday, August 8th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The firm earned $21.80 million during the quarter, compared to analysts’ expectations of $21.60 million. Arotech Corp. had a negative net margin of 1.70% and a positive return on equity of 2.25%. Analysts forecast that Arotech Corp. will post ($0.09) EPS for the current year.
In other Arotech Corp. news, Chairman Jon B. Kutler purchased 10,000 shares of the stock in a transaction on Monday, August 22nd. The shares were purchased at an average price of $2.60 per share, with a total value of $26,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 17.30% of the company’s stock.
A number of large investors have recently made changes to their positions in ARTX. Cannell Capital LLC acquired a new stake in shares of Arotech Corp. during the second quarter valued at about $938,000. Spark Investment Management LLC raised its stake in shares of Arotech Corp. by 510.8% in the second quarter. Spark Investment Management LLC now owns 158,800 shares of the company’s stock valued at $446,000 after buying an additional 132,800 shares during the period. TFS Capital LLC acquired a new stake in shares of Arotech Corp. during the second quarter valued at about $138,000. Vanguard Group Inc. raised its stake in shares of Arotech Corp. by 24.0% in the second quarter. Vanguard Group Inc. now owns 942,064 shares of the company’s stock valued at $2,647,000 after buying an additional 182,544 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Arotech Corp. by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 472,215 shares of the company’s stock valued at $1,327,000 after buying an additional 11,609 shares during the period. 16.00% of the stock is currently owned by hedge funds and other institutional investors.
Arotech Corp. Company Profile
Arotech Corporation is a defense and security products and services company, engaged in providing interactive simulation for military, law enforcement and commercial markets, and batteries and charging systems for the military, commercial and medical markets. The Company operates through two segments: Training and Simulation Division, and Power Systems Division.
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