Short Interest in Cemtrex Inc. (NASDAQ:CETX) Drops By 86.2%

Cemtrex Inc. (NASDAQ:CETX) was the recipient of a significant decline in short interest in June. As of June 15th, there was short interest totaling 115,857 shares, a decline of 86.2% from the May 31st total of 841,482 shares. Currently, 10.4% of the company’s stock are short sold. Based on an average daily volume of 172,802 shares, the short-interest ratio is presently 0.7 days.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CETX. Weiss Ratings raised Cemtrex from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 15th. Wall Street Zen upgraded Cemtrex from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Cemtrex has an average rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CETX. Millennium Management LLC acquired a new stake in Cemtrex during the 4th quarter worth approximately $70,000. Engineers Gate Manager LP purchased a new position in Cemtrex in the 4th quarter valued at $115,000. Jane Street Group LLC purchased a new position in Cemtrex in the 4th quarter valued at $186,000. Daytona Street Capital LLC acquired a new position in Cemtrex in the 4th quarter valued at $5,456,000. Finally, Sabby Management LLC purchased a new position in Cemtrex during the 3rd quarter worth $141,000. 1.97% of the stock is owned by hedge funds and other institutional investors.

Cemtrex Stock Down 6.8%

NASDAQ:CETX traded down $0.22 during midday trading on Friday, hitting $3.02. 82,166 shares of the company were exchanged, compared to its average volume of 117,720. The company has a current ratio of 1.57, a quick ratio of 1.29 and a debt-to-equity ratio of 0.25. Cemtrex has a fifty-two week low of $3.02 and a fifty-two week high of $220.50. The company has a market capitalization of $3.35 million, a PE ratio of -0.01 and a beta of 2.04. The company has a fifty day simple moving average of $7.77 and a 200 day simple moving average of $13.87.

Cemtrex (NASDAQ:CETX) last posted its earnings results on Friday, May 15th. The industrial products company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of ($3,087,000.00) by $3,087,001.10. The business had revenue of $18.06 million for the quarter, compared to analysts’ expectations of $8.29 million. Cemtrex had a negative return on equity of 142.99% and a negative net margin of 39.63%.

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.