Cemtrex (NASDAQ:CETX) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

Cemtrex Inc. (NASDAQ:CETX)’s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $0.99 and traded as high as $1.31. Cemtrex shares last traded at $1.16, with a volume of 883,191 shares.

Wall Street Analysts Forecast Growth

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

Cemtrex Stock Down 10.1%

The company has a market cap of $11.69 million, a PE ratio of 0.02 and a beta of 1.44. The business has a 50-day simple moving average of $0.99 and a 200-day simple moving average of $2.55. 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 results on Tuesday, February 17th. The industrial products company reported ($7.91) earnings per share (EPS) for the quarter. The business had revenue of $16.13 million for the quarter. Cemtrex had a negative return on equity of 127.57% and a negative net margin of 25.25%.

Hedge Funds Weigh In On Cemtrex

Several hedge funds and other institutional investors have recently made changes to their positions in CETX. Daytona Street Capital LLC purchased a new position in Cemtrex during the fourth quarter worth approximately $5,456,000. Millennium Management LLC purchased a new position in Cemtrex during the fourth quarter worth approximately $70,000. Engineers Gate Manager LP purchased a new position in Cemtrex during the fourth quarter worth approximately $115,000. Jane Street Group LLC purchased a new position in Cemtrex during the fourth quarter worth approximately $186,000. Finally, Sabby Management LLC purchased a new position in Cemtrex during the third quarter worth approximately $141,000. Hedge funds and other institutional investors own 1.97% of the company’s stock.

About Cemtrex

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.