Arotech PT Raised to $5.50 at B. Riley (ARTX)
B. Riley boosted their price target on shares of Arotech (NASDAQ:ARTX) from $5.25 to $5.50 in a research note issued on Wednesday. The firm currently has a “buy” rating on the stock. B. Riley’s price objective would indicate a potential upside of 39.95% from the stock’s previous close.
Arotech (NASDAQ:ARTX) traded down 1.53% during mid-day trading on Wednesday, hitting $3.87. 144,207 shares of the company’s stock traded hands. Arotech has a 52 week low of $1.63 and a 52 week high of $6.61. The stock has a 50-day moving average of $3.80 and a 200-day moving average of $3.94. The company has a market cap of $78.6 million and a price-to-earnings ratio of 24.26. Arotech also was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 1,506,069 shares, a drop of 26.4% from the July 15th total of 2,045,091 shares. Based on an average daily volume of 488,344 shares, the short-interest ratio is currently 3.1 days. Approximately 7.2% of the shares of the company are short sold.
Arotech (NASDAQ:ARTX) last announced its earnings results on Monday, August 11th. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.05 by $0.04. The company had revenue of $27.80 million for the quarter, compared to the consensus estimate of $28.00 million. On average, analysts predict that Arotech will post $0.19 earnings per share 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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