Arotech (NASDAQ:ARTX) Lowered to “Hold” at ValuEngine

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Arotech (NASDAQ:ARTX) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Monday, ValuEngine reports.

A number of other research firms also recently weighed in on ARTX. B. Riley set a $4.50 price objective on Arotech and gave the company a “buy” rating in a report on Monday, September 23rd. Zacks Investment Research upgraded Arotech from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a report on Thursday, August 8th. Finally, TheStreet upgraded Arotech from a “d+” rating to a “c-” rating in a report on Friday, September 27th.

Shares of NASDAQ:ARTX traded up $0.01 during trading on Monday, hitting $2.97. 237,000 shares of the company were exchanged, compared to its average volume of 153,380. The business’s 50 day moving average is $2.70 and its 200-day moving average is $2.40. The company has a market capitalization of $78.94 million, a P/E ratio of 18.56 and a beta of 1.27. The company has a quick ratio of 1.43, a current ratio of 1.70 and a debt-to-equity ratio of 0.14. Arotech has a 1-year low of $1.61 and a 1-year high of $3.66.

Arotech (NASDAQ:ARTX) last announced its quarterly earnings results on Wednesday, August 7th. The aerospace company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $23.27 million during the quarter, compared to the consensus estimate of $21.58 million. Arotech had a net margin of 0.19% and a return on equity of 2.79%. During the same period in the prior year, the business earned $0.03 earnings per share. As a group, sell-side analysts anticipate that Arotech will post 0.12 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of ARTX. River & Mercantile Asset Management LLP acquired a new stake in Arotech in the second quarter valued at $863,000. BlackRock Inc. increased its holdings in Arotech by 45.0% in the second quarter. BlackRock Inc. now owns 112,810 shares of the aerospace company’s stock valued at $224,000 after purchasing an additional 35,020 shares during the period. ETF Managers Group LLC increased its holdings in Arotech by 26.3% in the second quarter. ETF Managers Group LLC now owns 101,436 shares of the aerospace company’s stock valued at $198,000 after purchasing an additional 21,149 shares during the period. Finally, Delek Group Ltd. increased its holdings in Arotech by 12.6% in the second quarter. Delek Group Ltd. now owns 58,985 shares of the aerospace company’s stock valued at $115,000 after purchasing an additional 6,587 shares during the period. Institutional investors and hedge funds own 33.90% of the company’s stock.

Arotech Company Profile

Arotech Corporation provides defense and security products worldwide. The company's Training and Simulation division develops, manufactures, and markets multimedia and interactive digital solutions for engineering, use-of-force training, and operator training of military, law enforcement, security, emergency services, and other personnel.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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