Cemtrex (NASDAQ:CETX) Shares Pass Above 50-Day Moving Average – Here’s Why

Cemtrex Inc. (NASDAQ:CETX)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.93 and traded as high as $0.96. Cemtrex shares last traded at $0.9310, with a volume of 217,861 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Cemtrex from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Cemtrex Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 1.29. The stock has a 50 day moving average price of $0.93 and a two-hundred day moving average price of $1.74. The firm has a market capitalization of $10.35 million, a price-to-earnings ratio of -0.03 and a beta of 2.04.

Cemtrex (NASDAQ:CETX) last issued its quarterly earnings data on Friday, May 15th. The industrial products company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($308,700.00) by $308,700.11. Cemtrex had a negative return on equity of 142.99% and a negative net margin of 39.63%.The business had revenue of $18.06 million during the quarter, compared to analysts’ expectations of $8.29 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Daytona Street Capital LLC acquired a new position in Cemtrex during the 4th quarter worth $5,456,000. Jane Street Group LLC purchased a new stake in shares of Cemtrex in the 4th quarter valued at about $186,000. Engineers Gate Manager LP purchased a new stake in shares of Cemtrex in the 4th quarter valued at about $115,000. Millennium Management LLC purchased a new stake in shares of Cemtrex in the 4th quarter valued at about $70,000. Finally, Sabby Management LLC purchased a new stake in shares of Cemtrex in the 3rd quarter valued at about $141,000. 1.97% of the stock is owned by institutional investors and hedge funds.

About Cemtrex

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.