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 $2.74 and traded as low as $2.49. Cemtrex shares last traded at $2.54, with a volume of 18,143 shares trading hands.

Analyst Ratings Changes

CETX has been the subject of several research analyst reports. Wall Street Zen raised shares of Cemtrex from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cemtrex in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Cemtrex Stock Performance

The firm’s fifty day simple moving average is $2.74 and its 200 day simple moving average is $6.20. The company has a market capitalization of $2.82 million, a PE ratio of -0.03 and a beta of 2.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.54 and a quick ratio of 1.21.

Cemtrex (NASDAQ:CETX) last issued its earnings results on Friday, August 14th. The industrial products company reported ($3.19) EPS for the quarter, topping analysts’ consensus estimates of ($3,087,000.00) by $3,086,996.81. The firm had revenue of $18.44 million for the quarter, compared to the consensus estimate of $8.29 million. Cemtrex had a negative return on equity of 129.15% and a negative net margin of 38.59%.

Hedge Funds Weigh In On Cemtrex

Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in Cemtrex in the fourth quarter valued at $186,000. Engineers Gate Manager LP acquired a new position in Cemtrex during the fourth quarter worth $115,000. Finally, Millennium Management LLC purchased a new position in Cemtrex in the 4th quarter valued at about $70,000. 1.97% of the stock is owned by hedge funds and other institutional investors.

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.