Short Interest in Cemtrex Inc. (NASDAQ:CETX) Declines By 14.2%

Cemtrex Inc. (NASDAQ:CETX) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 561,770 shares, a decline of 14.2% from the February 12th total of 654,445 shares. Currently, 5.6% of the company’s stock are sold short. Based on an average trading volume of 469,993 shares, the days-to-cover ratio is currently 1.2 days. Based on an average trading volume of 469,993 shares, the days-to-cover ratio is currently 1.2 days. Currently, 5.6% of the company’s stock are sold short.

Hedge Funds Weigh In On Cemtrex

Several institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC bought a new position in Cemtrex during the 4th quarter worth approximately $186,000. Engineers Gate Manager LP bought a new stake in shares of Cemtrex in the 4th quarter valued at approximately $115,000. Millennium Management LLC acquired a new stake in shares of Cemtrex during the 4th quarter valued at approximately $70,000. Daytona Street Capital LLC acquired a new stake in shares of Cemtrex during the 4th quarter valued at approximately $5,456,000. Finally, Sabby Management LLC bought a new position in Cemtrex during the third quarter worth $141,000. 1.97% of the stock is currently owned by hedge funds and other institutional investors.

Cemtrex Stock Up 1.5%

NASDAQ:CETX traded up $0.01 on Tuesday, reaching $0.72. The stock had a trading volume of 187,429 shares, compared to its average volume of 2,151,247. The company has a 50-day moving average of $1.59 and a 200 day moving average of $4.28. The company has a current ratio of 2.38, a quick ratio of 1.96 and a debt-to-equity ratio of 0.28. The stock has a market cap of $7.28 million, a P/E ratio of 0.01 and a beta of 1.38. Cemtrex has a 12-month low of $0.66 and a 12-month high of $42.60.

Cemtrex (NASDAQ:CETX) last announced its earnings results on Tuesday, February 17th. The industrial products company reported ($7.91) earnings per share (EPS) for the quarter. Cemtrex had a negative return on equity of 127.57% and a negative net margin of 25.25%.The business had revenue of $16.13 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cemtrex in a report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

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.