Cemtrex (NASDAQ:CETX) Lowered to Sell Rating by Wall Street Zen

Cemtrex (NASDAQ:CETX) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

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

Cemtrex Price Performance

CETX stock opened at $5.52 on Friday. The business has a fifty day moving average of $9.29 and a two-hundred day moving average of $16.64. The company has a quick ratio of 1.29, a current ratio of 1.57 and a debt-to-equity ratio of 0.25. The stock has a market cap of $61.38 million, a price-to-earnings ratio of -0.16 and a beta of 2.04. Cemtrex has a 52-week low of $5.10 and a 52-week high of $220.50.

Cemtrex (NASDAQ:CETX) last posted its earnings results on Friday, May 15th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($3,087,000.00) by $3,087,001.10. The company had revenue of $18.06 million during the quarter, compared to analysts’ expectations of $8.29 million. Cemtrex had a negative return on equity of 142.99% and a negative net margin of 39.63%.

Hedge Funds Weigh In On Cemtrex

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

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.