Cemtrex (NASDAQ:CETX) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Cemtrex (NASDAQ:CETXGet Rating) in a report issued on Thursday. The brokerage set a “hold” rating on the industrial products company’s stock.

NASDAQ CETX opened at $0.53 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.36 and a debt-to-equity ratio of 0.31. Cemtrex has a 12-month low of $0.51 and a 12-month high of $2.56. The firm’s 50 day moving average is $0.64 and its 200-day moving average is $0.86.

Cemtrex (NASDAQ:CETXGet Rating) last posted its quarterly earnings data on Tuesday, February 22nd. The industrial products company reported ($0.20) earnings per share (EPS) for the quarter. Cemtrex had a negative net margin of 23.56% and a negative return on equity of 22.81%. The business had revenue of $10.67 million during the quarter.

A number of hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its position in Cemtrex by 85.9% during the fourth quarter. Renaissance Technologies LLC now owns 153,334 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 70,834 shares during the period. Virtu Financial LLC bought a new position in Cemtrex during the fourth quarter worth $115,000. Finally, Morgan Stanley boosted its position in Cemtrex by 703.6% during the third quarter. Morgan Stanley now owns 73,389 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 64,256 shares during the period. 4.72% of the stock is owned by hedge funds and other institutional investors.

Cemtrex Company Profile (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.

Further Reading

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