Arotech (ARTX) Releases Quarterly Earnings, Beats Expectations By $0.04 EPS
Arotech (NASDAQ:ARTX) announced its earnings results on Monday. The company reported $0.09 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.05 by $0.04, StockRatingsNetwork reports. The company had revenue of $27.80 million for the quarter, compared to the consensus estimate of $28.00 million.
Shares of Arotech (NASDAQ:ARTX) traded up 6.23% during mid-day trading on Monday, hitting $3.58. The stock had a trading volume of 536,617 shares. Arotech has a 1-year low of $1.63 and a 1-year high of $6.61. The stock has a 50-day moving average of $3.87 and a 200-day moving average of $3.92. The company has a market cap of $70.1 million and a P/E ratio of 22.62. Arotech also was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 1,506,069 shares, a decrease of 26.4% from the July 15th total of 2,045,091 shares. Based on an average daily trading volume, of 488,344 shares, the days-to-cover ratio is currently 3.1 days. Currently, 7.2% of the company’s shares are sold short.
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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