Cemtrex (NASDAQ:CETX) Share Price Passes Below 50-Day Moving Average – What’s Next?

Shares of Cemtrex Inc. (NASDAQ:CETX) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.01 and traded as low as $2.90. Cemtrex shares last traded at $3.06, with a volume of 160,836 shares traded.

Analysts Set New Price Targets

Several equities analysts have commented on CETX shares. Weiss Ratings upgraded shares of Cemtrex from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 15th. Wall Street Zen upgraded shares of Cemtrex from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Cemtrex Price Performance

The firm has a market capitalization of $3.40 million, a price-to-earnings ratio of -0.01 and a beta of 2.11. The company has a fifty day moving average price of $5.01 and a two-hundred day moving average price of $10.33. The company has a quick ratio of 1.29, a current ratio of 1.57 and a debt-to-equity ratio of 0.25.

Cemtrex (NASDAQ:CETX) last announced its earnings results on Friday, May 15th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3,087,000.00) by $3,087,000.11. The business 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%.

Institutional Inflows and Outflows

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

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.