Arotech Co. (ARTX) Cut to “Hold” at Zacks Investment Research
Arotech Co. (NASDAQ:ARTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
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. “
ARTX has been the topic of several other reports. B. Riley reissued a “buy” rating and issued a $4.50 target price on shares of Arotech in a research report on Wednesday, May 10th. ValuEngine raised Arotech from a “sell” rating to a “hold” rating in a research report on Wednesday, May 17th. Finally, Singular Research initiated coverage on Arotech in a research report on Friday, March 3rd. They issued a “buy” rating and a $5.00 target price on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $4.25.
Arotech (NASDAQ:ARTX) traded up 1.52% during mid-day trading on Friday, hitting $3.35. The company’s stock had a trading volume of 170,919 shares. The firm’s 50-day moving average is $3.16 and its 200-day moving average is $3.58. The company’s market cap is $87.67 million. Arotech has a 12-month low of $2.25 and a 12-month high of $5.00.
Arotech (NASDAQ:ARTX) last issued its quarterly earnings data on Monday, May 8th. The aerospace company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Arotech had a positive return on equity of 3.57% and a negative net margin of 0.41%. The firm had revenue of $22.35 million during the quarter, compared to analyst estimates of $22.56 million. Analysts predict that Arotech will post $0.09 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the stock. Cannell Capital LLC increased its position in Arotech by 198.9% in the third quarter. Cannell Capital LLC now owns 997,563 shares of the aerospace company’s stock valued at $2,943,000 after buying an additional 663,828 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Arotech by 50.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 818,338 shares of the aerospace company’s stock valued at $2,864,000 after buying an additional 274,857 shares during the last quarter. Renaissance Technologies LLC increased its position in Arotech by 150.9% in the fourth quarter. Renaissance Technologies LLC now owns 733,900 shares of the aerospace company’s stock valued at $2,569,000 after buying an additional 441,400 shares during the last quarter. GSA Capital Partners LLP increased its position in Arotech by 19.4% in the fourth quarter. GSA Capital Partners LLP now owns 43,000 shares of the aerospace company’s stock valued at $151,000 after buying an additional 7,000 shares during the last quarter. Finally, Oxford Asset Management purchased a new position in Arotech during the second quarter valued at about $971,000. 17.24% of the stock is currently owned by hedge funds and other institutional investors.
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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