Cemtrex, Inc. (NASDAQ:CETX) Sees Large Decline in Short Interest

Cemtrex, Inc. (NASDAQ:CETX) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 30,200 shares, a decline of 5.0% from the March 15th total of 31,800 shares. Based on an average daily volume of 53,200 shares, the days-to-cover ratio is currently 0.6 days.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Cemtrex in a research note on Wednesday, April 10th. They set a “hold” rating on the stock.

Institutional Trading of Cemtrex

A hedge fund recently bought a new stake in Cemtrex stock. Renaissance Technologies LLC bought a new position in Cemtrex, Inc. (NASDAQ:CETX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 144,688 shares of the industrial products company’s stock, valued at approximately $40,000. Renaissance Technologies LLC owned about 0.59% of Cemtrex at the end of the most recent quarter. 1.97% of the stock is currently owned by institutional investors and hedge funds.

Cemtrex Stock Down 2.4 %

Shares of Cemtrex stock opened at $3.26 on Tuesday. Cemtrex has a twelve month low of $2.91 and a twelve month high of $11.45. The company has a current ratio of 0.92, a quick ratio of 0.64 and a debt-to-equity ratio of 0.92. The business’s 50 day simple moving average is $3.64 and its 200-day simple moving average is $4.43.

Cemtrex (NASDAQ:CETX) last issued its quarterly earnings data on Monday, February 12th. The industrial products company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.29). The company had revenue of $16.88 million for the quarter, compared to the consensus estimate of $15.79 million. Cemtrex had a negative return on equity of 56.88% and a negative net margin of 6.41%. During the same quarter in the previous year, the company earned ($3.99) earnings per share.

About Cemtrex

Cemtrex, Inc operates as a technology company in the United States and internationally. It operates through Security, Industrial Services, and Cemtrex Corporate segments. The company offers browser-based video monitoring and analytics-based recognition systems, cameras, servers, and access control systems for security and surveillance in industrial and commercial facilities, federal prisons, hospitals, universities, schools, and federal and state government offices; and provides critical security and video surveillance solutions utilizing artificial intelligence based data algorithms.