ValuEngine Upgrades Schmitt Industries (SMIT) to “Buy”

Schmitt Industries (NASDAQ:SMIT) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Schmitt Industries (NASDAQ:SMIT) traded up $0.05 during mid-day trading on Thursday, hitting $2.45. The stock had a trading volume of 158,271 shares, compared to its average volume of 41,641. Schmitt Industries has a 1 year low of $1.48 and a 1 year high of $2.69.

Schmitt Industries (NASDAQ:SMIT) last posted its quarterly earnings data on Friday, October 6th. The scientific and technical instruments company reported ($0.04) earnings per share for the quarter. Schmitt Industries had a negative return on equity of 15.15% and a negative net margin of 8.59%. The business had revenue of $3.08 million during the quarter.

A hedge fund recently raised its stake in Schmitt Industries stock. GRT Capital Partners L.L.C. boosted its position in Schmitt Industries, Inc. (NASDAQ:SMIT) by 48.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,825 shares of the scientific and technical instruments company’s stock after buying an additional 37,000 shares during the period. GRT Capital Partners L.L.C. owned approximately 3.77% of Schmitt Industries worth $194,000 at the end of the most recent quarter. 21.99% of the stock is currently owned by institutional investors.

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About Schmitt Industries

Schmitt Industries, Inc designs, manufactures and sells test and measurement products for two main business segments: the Balancer segment and the Measurement segment. The Company operates through two segments: the design and assembly of dynamic balancing systems and components for the machine tool industry (Balancer), and the design and assembly of laser-based test and measurement systems (Measurement).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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