Cemtrex (NASDAQ:CETX) Shares Cross Below 50 Day Moving Average – Here’s Why

Cemtrex Inc. (NASDAQ:CETX)’s stock price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $5.68 and traded as low as $2.43. Cemtrex shares last traded at $2.70, with a volume of 225,044 shares changing hands.

Wall Street Analysts Forecast Growth

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

Cemtrex Stock Down 4.3%

The firm has a market cap of $2.95 million, a P/E ratio of -0.01 and a beta of 2.11. The firm’s fifty day moving average is $5.55 and its 200 day moving average is $11.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.29 and a current ratio of 1.57.

Cemtrex (NASDAQ:CETX) last released its quarterly earnings results on Friday, May 15th. The industrial products company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($3,087,000.00) by $3,087,000.11. Cemtrex had a negative net margin of 39.63% and a negative return on equity of 142.99%. The firm had revenue of $18.06 million for the quarter, compared to analysts’ expectations of $8.29 million.

Institutional Trading of Cemtrex

Several hedge funds have recently added to or reduced their stakes in the company. Daytona Street Capital LLC acquired a new position in Cemtrex in the 4th quarter valued at $5,456,000. Engineers Gate Manager LP acquired a new stake in shares of Cemtrex during the fourth quarter worth $115,000. Jane Street Group LLC acquired a new stake in shares of Cemtrex during the fourth quarter worth $186,000. Finally, Millennium Management LLC bought a new stake in shares of Cemtrex in the fourth quarter valued at about $70,000. 1.97% of the stock is owned by institutional investors and hedge funds.

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.