Cemtrex (NASDAQ:CETX) Stock Crosses Below 50-Day Moving Average – Here’s Why

Cemtrex Inc. (NASDAQ:CETX)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $4.62 and traded as low as $2.50. Cemtrex shares last traded at $2.60, with a volume of 172,216 shares trading hands.

Analyst Ratings Changes

Several brokerages have commented on CETX. Wall Street Zen downgraded Cemtrex from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cemtrex in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Cemtrex has a consensus rating of “Sell”.

Cemtrex Price Performance

The company has a current ratio of 1.20, a quick ratio of 0.96 and a debt-to-equity ratio of 2.20. The stock has a market capitalization of $1.92 million, a PE ratio of -0.02 and a beta of 1.29. The business has a fifty day moving average price of $4.62 and a 200-day moving average price of $12.76.

Institutional Trading of Cemtrex

A hedge fund recently bought a new stake in Cemtrex stock. Sabby Management LLC acquired a new position in Cemtrex Inc. (NASDAQ:CETX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 24,987 shares of the industrial products company’s stock, valued at approximately $141,000. Cemtrex makes up 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 19th biggest position. Sabby Management LLC owned about 3.38% of Cemtrex at the end of the most recent quarter. 1.97% of the stock is currently owned by institutional investors.

About Cemtrex

Cemtrex, Inc engages in the provision of solutions in the technology industry. It operates through the following segments: Security, Industrial Services, and Cemtrex Corporate. The Security segment provides end-to-end security solutions to meet corporate, industrial, and governmental security challenges.