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

Cemtrex, Inc. (NASDAQ:CETX) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 30,200 shares, a decline of 5.0% from the March 15th total of 31,800 shares. Based on an average daily volume of 53,200 shares, the short-interest ratio is currently 0.6 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Cemtrex in a research report on Wednesday, April 10th. They set a “hold” rating for the company.

Cemtrex Price Performance

Shares of CETX stock opened at $3.26 on Tuesday. Cemtrex has a 12 month low of $2.91 and a 12 month high of $11.45. The company has a current ratio of 0.92, a quick ratio of 0.64 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average of $3.64 and a 200-day moving average of $4.43.

Cemtrex (NASDAQ:CETX) last announced its earnings results on Monday, February 12th. The industrial products company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.29). Cemtrex had a negative return on equity of 56.88% and a negative net margin of 6.41%. The company had revenue of $16.88 million for the quarter, compared to the consensus estimate of $15.79 million. During the same period last year, the firm posted ($3.99) EPS.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cemtrex stock. Renaissance Technologies LLC purchased a new position in shares of Cemtrex, Inc. (NASDAQ:CETX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 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 reporting period. Institutional investors and hedge funds own 1.97% of the company’s stock.

About Cemtrex

Cemtrex, Inc operates as a technology company in the United States and internationally. It operates through Security, Industrial Services, and Cemtrex Corporate segments. The company offers browser-based video monitoring and analytics-based recognition systems, cameras, servers, and access control systems for security and surveillance in industrial and commercial facilities, federal prisons, hospitals, universities, schools, and federal and state government offices; and provides critical security and video surveillance solutions utilizing artificial intelligence based data algorithms.