Initiates Coverage on Cemtrex (NASDAQ:CETX)

Equities researchers at started coverage on shares of Cemtrex (NASDAQ:CETXGet Rating) in a research report issued on Tuesday. The brokerage set a “hold” rating on the industrial products company’s stock.

Cemtrex Stock Down 8.5 %

Cemtrex stock opened at $0.26 on Tuesday. The company’s fifty day simple moving average is $0.31 and its 200-day simple moving average is $0.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 1.21. Cemtrex has a 12 month low of $0.25 and a 12 month high of $1.73.

Cemtrex (NASDAQ:CETXGet Rating) last issued its quarterly earnings data on Monday, August 15th. The industrial products company reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $13.63 million during the quarter. Cemtrex had a negative return on equity of 55.21% and a negative net margin of 37.78%.

Institutional Investors Weigh In On Cemtrex

A hedge fund recently bought a new stake in Cemtrex stock. Renaissance Technologies LLC acquired a new position in Cemtrex, Inc. (NASDAQ:CETXGet Rating) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 144,688 shares of the industrial products company’s stock, valued at approximately $40,000. Renaissance Technologies LLC owned approximately 0.59% of Cemtrex at the end of the most recent quarter. 12.40% of the stock is owned by institutional investors and hedge funds.

About Cemtrex

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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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