Cemtrex (NASDAQ:CETX) Stock Passes Below Fifty Day Moving Average – Here’s Why

Cemtrex Inc. (NASDAQ:CETX) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.94 and traded as low as $2.13. Cemtrex shares last traded at $2.14, with a volume of 1,458,030 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cemtrex in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Cemtrex currently has an average rating of “Sell”.

Cemtrex Price Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.94 and a current ratio of 1.22. The firm has a market cap of $18.40 million, a P/E ratio of -0.01 and a beta of 1.29. The company has a 50-day moving average of $2.94 and a 200 day moving average of $9.14.

Cemtrex (NASDAQ:CETX) last announced its quarterly earnings results on Monday, December 29th. The industrial products company reported ($35.68) earnings per share for the quarter. The company had revenue of $18.53 million during the quarter. Cemtrex had a negative net margin of 36.75% and a negative return on equity of 524.31%.

Hedge Funds Weigh In On Cemtrex

An institutional investor recently bought a new position in Cemtrex stock. Sabby Management LLC acquired a new position in shares of Cemtrex Inc. (NASDAQ:CETX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,987 shares of the industrial products company’s stock, valued at approximately $141,000. Cemtrex comprises about 0.2% of Sabby Management LLC’s holdings, making the stock its 19th biggest holding. Sabby Management LLC owned approximately 3.38% of Cemtrex as of its most recent filing with the Securities and Exchange Commission (SEC). 1.97% of the stock is owned by hedge funds and other institutional investors.

Cemtrex Company Profile

Cemtrex, Inc is an industrial technology company that develops and manufactures advanced electronics, automation systems and digital transformation solutions for a broad range of markets. Headquartered in New York, the company focuses on integrating hardware, software and connectivity to streamline industrial processes and enhance operational efficiency. Its core competencies include precision electronics assembly, automated manufacturing platforms and custom-engineered equipment for clients in transportation, energy and critical infrastructure sectors.

Through its Industrial Technologies segment, Cemtrex provides turn-key electronics manufacturing services, precision machining and robotic process automation.