Cemtrex, Inc. (NASDAQ:CETX) Sees Large Decline in Short Interest

Cemtrex, Inc. (NASDAQ:CETXGet Rating) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 136,900 shares, a decline of 42.2% from the March 15th total of 236,700 shares. Based on an average daily volume of 192,100 shares, the days-to-cover ratio is presently 0.7 days.

Shares of NASDAQ CETX opened at $0.57 on Friday. The firm’s 50-day moving average price is $0.66 and its 200-day moving average price is $0.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.36 and a current ratio of 1.80. Cemtrex has a 12-month low of $0.55 and a 12-month high of $2.56.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley raised its position in shares of Cemtrex by 703.6% during the 3rd quarter. Morgan Stanley now owns 73,389 shares of the industrial products company’s stock valued at $85,000 after buying an additional 64,256 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Cemtrex during the 4th quarter valued at about $115,000. Finally, Renaissance Technologies LLC raised its position in shares of Cemtrex by 85.9% during the 4th quarter. Renaissance Technologies LLC now owns 153,334 shares of the industrial products company’s stock valued at $126,000 after buying an additional 70,834 shares in the last quarter. Hedge funds and other institutional investors own 4.72% of the company’s stock.

Separately, StockNews.com initiated coverage on shares of Cemtrex in a research note on Wednesday. They issued a “hold” rating on the stock.

About Cemtrex (Get Rating)

Cemtrex, Inc operates as a technology company in the United States and internationally. The company operates through Advanced Technologies and Industrial Services segments. The Advanced Technologies segment provides Internet of Things products and smart devices under the SmartDesk name for mobile, web, virtual and augmented reality, wearables, and television markets; and security and video surveillance solutions, and virtual and augmented reality solutions for various commercial and industrial applications.

Recommended Stories

Receive News & Ratings for Cemtrex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cemtrex and related companies with MarketBeat.com's FREE daily email newsletter.