Arotech Corp. (ARTX) Upgraded to “Hold” by Zacks Investment Research
Arotech Corp. (NASDAQ:ARTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Arotech Corporation operates two business divisions: Electric Fuel Batteries — developing and manufacturing zinc-air batteries for military and homeland security applications and developing electric vehicle batteries for zero emission public transportation; and Arotech Defense — consisting of IES Interactive, which provides advanced high-tech multimedia training systems for law enforcement and paramilitary organizations, MDT Armor, which provides vehicle armoring for the military, industrial and private sectors, and Arcon Security. “
A number of other brokerages also recently weighed in on ARTX. B. Riley reaffirmed a “buy” rating and issued a $4.50 target price on shares of Arotech Corp. in a report on Tuesday, August 9th. TheStreet raised Arotech Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 7th.
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Shares of Arotech Corp. (NASDAQ:ARTX) traded down 6.29% during midday trading on Tuesday, hitting $3.28. The company had a trading volume of 588,472 shares. Arotech Corp. has a one year low of $1.32 and a one year high of $4.13. The stock’s 50-day moving average price is $2.98 and its 200-day moving average price is $2.95. The stock’s market capitalization is $83.26 million.
Arotech Corp. (NASDAQ:ARTX) last issued its earnings results on Monday, August 8th. The company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The firm had revenue of $21.80 million for the quarter, compared to the consensus estimate of $21.60 million. Arotech Corp. had a positive return on equity of 2.25% and a negative net margin of 1.70%. Analysts predict that Arotech Corp. will post ($0.09) EPS for the current year.
In other news, Chairman Jon B. Kutler purchased 10,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was bought at an average cost of $2.60 per share, for a total transaction of $26,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 17.30% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ARTX. TFS Capital LLC purchased a new position in shares of Arotech Corp. during the second quarter worth approximately $138,000. Spark Investment Management LLC boosted its position in shares of Arotech Corp. by 510.8% in the second quarter. Spark Investment Management LLC now owns 158,800 shares of the company’s stock worth $446,000 after buying an additional 132,800 shares during the last quarter. Cannell Capital LLC purchased a new position in shares of Arotech Corp. during the second quarter worth approximately $938,000. Oxford Asset Management purchased a new position in shares of Arotech Corp. during the second quarter worth approximately $971,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Arotech Corp. by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 472,215 shares of the company’s stock worth $1,327,000 after buying an additional 11,609 shares during the last quarter. Institutional investors own 16.00% of the company’s stock.
Arotech Corp. Company Profile
Arotech Corporation is a defense and security products and services company, engaged in providing interactive simulation for military, law enforcement and commercial markets, and batteries and charging systems for the military, commercial and medical markets. The Company operates through two segments: Training and Simulation Division, and Power Systems Division.
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