Cemtrex (CETX) Stock Rating Upgraded by Zacks Investment Research

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Cemtrex (NASDAQ:CETX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “Cemtrex Inc. is a technology company. The Company through its Monitoring Instruments and Products division manufactures sells and services instruments, software and systems for monitoring emissions of greenhouse gases, hazardous gases, particulate and other regulated pollutants. Its product are sold to power plants, refineries, chemical plants, cement plants and other industries, including federal and state governmental agencies. Cemtrex Inc. is based in Farmingdale, New York. “

NASDAQ CETX traded down $0.01 during trading hours on Monday, reaching $0.54. The company’s stock had a trading volume of 75,000 shares, compared to its average volume of 162,821. Cemtrex has a 52 week low of $0.50 and a 52 week high of $3.23. The company has a current ratio of 1.36, a quick ratio of 0.77 and a debt-to-equity ratio of 0.24.

Cemtrex (NASDAQ:CETX) last released its earnings results on Wednesday, February 20th. The industrial products company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The firm had revenue of $17.29 million for the quarter, compared to analyst estimates of $21.15 million. Cemtrex had a negative net margin of 0.04% and a negative return on equity of 0.09%. As a group, research analysts expect that Cemtrex will post -0.63 EPS for the current fiscal year.

A hedge fund recently bought a new stake in Cemtrex stock. Municipal Employees Retirement System of Michigan bought a new stake in shares of Cemtrex Inc (NASDAQ:CETX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 132,290 shares of the industrial products company’s stock, valued at approximately $76,000. Municipal Employees Retirement System of Michigan owned 0.99% of Cemtrex as of its most recent filing with the Securities and Exchange Commission. 4.72% of the stock is owned by institutional investors.

About Cemtrex

Cemtrex, Inc primarily provides electronic manufacturing services. The company operates through three segments: Advanced Technologies, Electronics Manufacturing, and Industrial Technology. The Advanced Technologies segment provides SmartDesk, an IoT product for the desktop PC market; and related white glove installation, extended warranties, and accessories directly to consumers, as well as through value added resellers for enterprises.

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