Gabelli Funds LLC purchased a new stake in shares of Arotech Co. (NASDAQ:ARTX) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 596,213 shares of the aerospace company’s stock, valued at approximately $1,753,000. Gabelli Funds LLC owned 2.24% of Arotech at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Arotech during the 3rd quarter valued at $1,518,000. River & Mercantile Asset Management LLP bought a new position in shares of Arotech during the 2nd quarter valued at $863,000. BlackRock Inc. lifted its holdings in shares of Arotech by 45.0% during the 2nd quarter. BlackRock Inc. now owns 112,810 shares of the aerospace company’s stock valued at $224,000 after buying an additional 35,020 shares during the period. ETF Managers Group LLC lifted its holdings in shares of Arotech by 26.3% during the 2nd quarter. ETF Managers Group LLC now owns 101,436 shares of the aerospace company’s stock valued at $198,000 after buying an additional 21,149 shares during the period. Finally, Delek Group Ltd. lifted its holdings in shares of Arotech by 12.6% during the 2nd quarter. Delek Group Ltd. now owns 58,985 shares of the aerospace company’s stock valued at $115,000 after buying an additional 6,587 shares during the period. 32.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:ARTX traded down $0.01 during midday trading on Friday, hitting $2.99. The company had a trading volume of 53,100 shares, compared to its average volume of 153,912. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.70 and a quick ratio of 1.43. Arotech Co. has a 12-month low of $1.61 and a 12-month high of $3.66. The company has a fifty day moving average of $2.92 and a two-hundred day moving average of $2.40. The company has a market cap of $79.73 million, a price-to-earnings ratio of 18.69 and a beta of 1.29.
Arotech (NASDAQ:ARTX) last announced its quarterly earnings results on Wednesday, November 6th. The aerospace company reported $0.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.06. Arotech had a net margin of 0.19% and a return on equity of 2.79%. The firm had revenue of $23.57 million during the quarter, compared to the consensus estimate of $26.45 million. Research analysts expect that Arotech Co. will post 0.12 earnings per share for the current fiscal year.
Several research firms have recently weighed in on ARTX. ValuEngine raised Arotech from a “hold” rating to a “buy” rating in a report on Friday, November 1st. TheStreet raised Arotech from a “d+” rating to a “c-” rating in a report on Friday, September 27th. B. Riley set a $4.50 price target on Arotech and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Zacks Investment Research cut Arotech from a “buy” rating to a “hold” rating in a report on Thursday.
Arotech Company Profile
Arotech Corporation provides defense and security products worldwide. The company's Training and Simulation division develops, manufactures, and markets multimedia and interactive digital solutions for engineering, use-of-force training, and operator training of military, law enforcement, security, emergency services, and other personnel.
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