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

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

NASDAQ CETX opened at $0.30 on Monday. The company has a fifty day simple moving average of $0.50 and a two-hundred day simple moving average of $0.74. Cemtrex has a 12-month low of $0.27 and a 12-month high of $2.56. The company has a quick ratio of 1.36, a current ratio of 1.30 and a debt-to-equity ratio of 0.25.

Cemtrex (NASDAQ:CETXGet Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The industrial products company reported ($0.20) earnings per share (EPS) for the quarter. The company had revenue of $10.67 million during the quarter. Cemtrex had a negative return on equity of 40.26% and a negative net margin of 36.68%.

Several large investors have recently added to or reduced their stakes in CETX. Virtu Financial LLC acquired a new stake in shares of Cemtrex in the fourth quarter worth $115,000. Renaissance Technologies LLC increased its stake in shares of Cemtrex by 85.9% in the fourth quarter. Renaissance Technologies LLC now owns 153,334 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 70,834 shares during the period. Finally, Morgan Stanley increased its stake in shares of Cemtrex by 703.6% in the third quarter. Morgan Stanley now owns 73,389 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 64,256 shares during the period. Hedge funds and other institutional investors own 5.06% of the company’s 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.

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