Arotech (ARTX) Upgraded to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Arotech (NASDAQ:ARTX) from a sell rating to a hold rating in a research note published on Wednesday morning.

According to Zacks, “Arotech Corporation operates two business divisions: Electric Fuel Batteries — developing and manufacturing zinc-air batteries for military and homeland security applications and developing electric vehicle batteries for zero emission public transportation; and Arotech Defense — consisting of IES Interactive, which provides advanced high-tech multimedia training systems for law enforcement and paramilitary organizations, MDT Armor, which provides vehicle armoring for the military, industrial and private sectors, and Arcon Security. “

Other research analysts have also issued research reports about the company. TheStreet lowered Arotech from a b- rating to a c rating in a research report on Tuesday, July 3rd. ValuEngine lowered Arotech from a hold rating to a sell rating in a research report on Wednesday.

Shares of Arotech stock opened at $3.35 on Wednesday. The stock has a market cap of $86.08 million, a PE ratio of 14.77 and a beta of 1.66. The company has a quick ratio of 1.67, a current ratio of 2.08 and a debt-to-equity ratio of 0.10. Arotech has a twelve month low of $2.70 and a twelve month high of $4.35.

Arotech (NASDAQ:ARTX) last issued its quarterly earnings data on Tuesday, August 7th. The aerospace company reported $0.03 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.03. The firm had revenue of $21.88 million during the quarter, compared to analyst estimates of $23.75 million. Arotech had a return on equity of 7.89% and a net margin of 5.65%. analysts anticipate that Arotech will post 0.14 earnings per share for the current fiscal year.

In related news, Director Kenneth W. Cappell purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was bought at an average price of $3.28 per share, for a total transaction of $32,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Jon B. Kutler purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was bought at an average price of $3.20 per share, with a total value of $64,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 35,289 shares of company stock valued at $113,867. Company insiders own 9.20% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cannell Capital LLC grew its position in Arotech by 2.7% in the first quarter. Cannell Capital LLC now owns 1,817,418 shares of the aerospace company’s stock worth $5,543,000 after acquiring an additional 47,256 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Arotech by 12.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,727,014 shares of the aerospace company’s stock worth $6,476,000 after acquiring an additional 188,019 shares in the last quarter. Millennium Management LLC grew its position in Arotech by 1,124.3% in the second quarter. Millennium Management LLC now owns 469,163 shares of the aerospace company’s stock worth $1,759,000 after acquiring an additional 430,842 shares in the last quarter. Ancora Advisors LLC purchased a new position in Arotech in the first quarter worth about $782,000. Finally, B. Riley Financial Inc. purchased a new position in Arotech in the second quarter worth about $400,000. Institutional investors own 27.44% of the company’s stock.

Arotech Company Profile

Arotech Corporation provides defense and security products worldwide. The company's Training and Simulation division develops, manufactures, and markets multimedia and interactive digital solutions for engineering, use-of-force training, and operator training of military, law enforcement, security, emergency services, and other personnel.

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