Insider Selling: Arotech CEO Sells 8,500 Shares of Stock (ARTX)
Arotech (NASDAQ:ARTX) CEO Robert S. Ehrlich sold 8,500 shares of Arotech stock on the open market in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $4.46, for a total transaction of $37,910.00. Following the completion of the transaction, the chief executive officer now directly owns 1,333,045 shares of the company’s stock, valued at approximately $5,945,381. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at B. Riley upgraded shares of Arotech from a “neutral” rating to a “buy” rating in a research note on Monday, May 12th. They now have a $5.00 price target on the stock. They noted that the move was a valuation call.
Arotech (NASDAQ:ARTX) traded down 0.44% on Thursday, hitting $4.52. The stock had a trading volume of 109,255 shares. Arotech has a 52 week low of $1.32 and a 52 week high of $6.61. The stock has a 50-day moving average of $4.4 and a 200-day moving average of $3.88. The company has a market cap of $88.5 million and a price-to-earnings ratio of 30.47.
Arotech (NASDAQ:ARTX) last posted its quarterly earnings results on Tuesday, May 13th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $22.40 million for the quarter, compared to the consensus estimate of $21.30 million. Analysts expect that Arotech will post $0.17 EPS for the current fiscal year.
Arotech Corporation is a defense and security products and services company, engaged in three business areas: high-level armoring for military and nonmilitary air and ground vehicles; interactive simulation for military, law enforcement and commercial markets, and batteries and charging systems for the military.
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