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

Cemtrex, Inc. (NASDAQ:CETX) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 45,600 shares, a decline of 6.7% from the October 15th total of 48,900 shares. Based on an average trading volume of 63,800 shares, the short-interest ratio is currently 0.7 days.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Cemtrex in a research note on Thursday, October 5th. They set a “hold” rating on the stock.

Cemtrex Trading Up 0.2 %

Shares of NASDAQ CETX opened at $5.05 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.96 and a debt-to-equity ratio of 0.43. Cemtrex has a twelve month low of $3.15 and a twelve month high of $14.46. The company’s fifty day moving average is $4.83 and its 200-day moving average is $6.73. The stock has a market cap of $5.05 million, a price-to-earnings ratio of -0.36 and a beta of 2.12.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cemtrex stock. Citadel Advisors LLC acquired a new position in shares of Cemtrex, Inc. (NASDAQ:CETX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,165 shares of the industrial products company’s stock, valued at approximately $105,000. Citadel Advisors LLC owned approximately 1.42% of Cemtrex as of its most recent SEC filing. 3.38% of the stock is owned by institutional investors.

About Cemtrex

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.