Cemtrex (NASDAQ:CETX) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Cemtrex Inc. (NASDAQ:CETX)’s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.68 and traded as low as $2.43. Cemtrex shares last traded at $2.70, with a volume of 225,044 shares trading hands.

Analyst Upgrades and Downgrades

CETX has been the subject of several research reports. Weiss Ratings raised Cemtrex from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 15th. Wall Street Zen upgraded shares of Cemtrex from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Cemtrex Price Performance

The company has a market cap of $3.00 million, a price-to-earnings ratio of -0.01 and a beta of 2.11. The company has a current ratio of 1.57, a quick ratio of 1.29 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $5.68 and a 200 day moving average price of $11.26.

Cemtrex (NASDAQ:CETX) last announced its earnings results on Friday, May 15th. The industrial products company reported $0.11 EPS for the quarter, beating the consensus estimate of ($3,087,000.00) by $3,087,000.11. The business had revenue of $18.06 million during the quarter, compared to the consensus estimate of $8.29 million. Cemtrex had a negative return on equity of 142.99% and a negative net margin of 39.63%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CETX. Millennium Management LLC purchased a new stake in shares of Cemtrex in the fourth quarter worth approximately $70,000. Engineers Gate Manager LP acquired a new position in Cemtrex in the 4th quarter valued at approximately $115,000. Jane Street Group LLC acquired a new position in Cemtrex in the 4th quarter valued at approximately $186,000. Finally, Daytona Street Capital LLC purchased a new stake in Cemtrex in the 4th quarter worth approximately $5,456,000. Hedge funds and other institutional investors own 1.97% of the company’s stock.

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.