Cemtrex Inc. (NASDAQ:CETX) Sees Significant Increase in Short Interest

Cemtrex Inc. (NASDAQ:CETX) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totaling 334,306 shares, an increase of 289.4% from the June 30th total of 85,858 shares. Based on an average daily trading volume, of 2,685,722 shares, the days-to-cover ratio is currently 0.1 days. Approximately 30.1% of the shares of the company are sold short.

Cemtrex Stock Up 6.3%

NASDAQ CETX opened at $2.87 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.29 and a debt-to-equity ratio of 0.25. The company has a market cap of $3.19 million, a price-to-earnings ratio of -0.01 and a beta of 2.11. The company has a 50 day moving average of $4.70 and a 200-day moving average of $9.82. Cemtrex has a 1-year low of $2.38 and a 1-year high of $220.50.

Cemtrex (NASDAQ:CETX) last issued its quarterly 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 the consensus estimate of $8.29 million. Cemtrex had a negative return on equity of 142.99% and a negative net margin of 39.63%.

Institutional Investors Weigh In On Cemtrex

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

Analysts Set New Price Targets

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