Cemtrex (NASDAQ:CETX) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Cemtrex (NASDAQ:CETX) in a report released on Thursday. The firm set a “hold” rating on the industrial products company’s stock.

Cemtrex Price Performance

NASDAQ:CETX opened at $3.10 on Thursday. 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 stock has a 50-day simple moving average of $3.62 and a 200 day simple moving average of $4.39. Cemtrex has a one year low of $2.91 and a one year high of $11.45.

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

Hedge Funds Weigh In On Cemtrex

A hedge fund recently bought a new stake in Cemtrex stock. Renaissance Technologies LLC purchased a new stake in shares of Cemtrex, Inc. (NASDAQ:CETX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 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 owned by institutional investors and hedge funds.

Cemtrex Company Profile

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.