Cemtrex (NASDAQ:CETX) Stock Price Passes Below 50-Day Moving Average – What’s Next?

Cemtrex Inc. (NASDAQ:CETX) shares crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $1.34 and traded as low as $0.5919. Cemtrex shares last traded at $0.5976, with a volume of 158,486 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cemtrex in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Cemtrex Stock Down 3.5%

The company has a market cap of $6.02 million, a PE ratio of 0.01 and a beta of 1.38. The business has a 50-day simple moving average of $1.34 and a 200-day simple moving average of $3.67. The company has a quick ratio of 1.96, a current ratio of 2.38 and a debt-to-equity ratio of 0.28.

Cemtrex (NASDAQ:CETX) last issued its quarterly earnings data on Tuesday, February 17th. The industrial products company reported ($7.91) EPS for the quarter. The business had revenue of $16.13 million during the quarter. Cemtrex had a negative net margin of 25.25% and a negative return on equity of 127.57%.

Institutional Investors Weigh In On Cemtrex

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Daytona Street Capital LLC acquired a new position in Cemtrex during the fourth quarter worth $5,456,000. Jane Street Group LLC acquired a new stake in shares of Cemtrex in the fourth quarter valued at about $186,000. Engineers Gate Manager LP acquired a new stake in shares of Cemtrex in the fourth quarter valued at about $115,000. Millennium Management LLC purchased a new stake in shares of Cemtrex during the fourth quarter worth about $70,000. Finally, Sabby Management LLC acquired a new position in shares of Cemtrex during the 3rd quarter worth about $141,000. Hedge funds and other institutional investors own 1.97% of the company’s stock.

Cemtrex Company Profile

Cemtrex, Inc is an industrial technology company that develops and manufactures advanced electronics, automation systems and digital transformation solutions for a broad range of markets. Headquartered in New York, the company focuses on integrating hardware, software and connectivity to streamline industrial processes and enhance operational efficiency. Its core competencies include precision electronics assembly, automated manufacturing platforms and custom-engineered equipment for clients in transportation, energy and critical infrastructure sectors.

Through its Industrial Technologies segment, Cemtrex provides turn-key electronics manufacturing services, precision machining and robotic process automation.