Cemtrex (NASDAQ:CETX) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Cemtrex Inc. (NASDAQ:CETX) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $5.68 and traded as low as $2.43. Cemtrex shares last traded at $2.70, with a volume of 225,044 shares traded.

Analysts Set New Price Targets

CETX has been the subject of several recent research reports. Weiss Ratings upgraded Cemtrex from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 15th. Wall Street Zen upgraded Cemtrex from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Cemtrex Price Performance

The company has a quick ratio of 1.29, a current ratio of 1.57 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $3.00 million, a P/E ratio of -0.01 and a beta of 2.11. The company’s 50-day simple moving average is $5.68 and its 200 day simple moving average is $11.26.

Cemtrex (NASDAQ:CETX) last announced its quarterly earnings results on Friday, May 15th. The industrial products company reported $0.11 EPS for the quarter, topping the consensus estimate of ($3,087,000.00) by $3,087,000.11. The company had revenue of $18.06 million for the quarter, compared to analyst estimates of $8.29 million. Cemtrex had a negative net margin of 39.63% and a negative return on equity of 142.99%.

Hedge Funds Weigh In On Cemtrex

Hedge funds have recently bought and sold shares of the business. Millennium Management LLC bought a new position in Cemtrex during the fourth quarter valued at about $70,000. Engineers Gate Manager LP acquired a new stake in shares of Cemtrex in the fourth quarter worth about $115,000. Jane Street Group LLC bought a new stake in shares of Cemtrex during the 4th quarter worth about $186,000. Finally, Daytona Street Capital LLC bought a new stake in shares of Cemtrex during the 4th quarter worth about $5,456,000. 1.97% of the stock is owned by institutional investors and hedge funds.

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.