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

Cemtrex Inc. (NASDAQ:CETX) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $1.66 and traded as low as $0.76. Cemtrex shares last traded at $0.7674, with a volume of 2,194,039 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cemtrex in a research note on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Cemtrex currently has an average rating of “Sell”.

Cemtrex Stock Down 1.9%

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.96 and a current ratio of 2.38. The company has a market capitalization of $7.58 million, a PE ratio of 0.01 and a beta of 1.38. The firm’s 50-day simple moving average is $1.63 and its 200 day simple moving average is $4.60.

Cemtrex (NASDAQ:CETX) last announced its quarterly earnings results on Tuesday, February 17th. The industrial products company reported ($7.91) earnings per share (EPS) for the quarter. Cemtrex had a negative net margin of 25.25% and a negative return on equity of 127.57%. The company had revenue of $16.13 million during the quarter.

Institutional Investors Weigh In On Cemtrex

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