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

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

Shares of NASDAQ CETX opened at $0.39 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.80 and a debt-to-equity ratio of 0.31. Cemtrex has a 1-year low of $0.36 and a 1-year high of $2.56. The company has a fifty day moving average price of $0.60 and a 200 day moving average price of $0.84.

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

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC raised its holdings in shares of Cemtrex by 85.9% in the 4th quarter. Renaissance Technologies LLC now owns 153,334 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 70,834 shares during the period. Virtu Financial LLC acquired a new position in shares of Cemtrex during the 4th quarter worth approximately $115,000. Finally, Morgan Stanley grew 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 worth $85,000 after purchasing an additional 64,256 shares in the last quarter. 4.72% of the stock is currently 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.

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