Cemtrex (NASDAQ:CETX) Stock Price Passes Below Fifty Day Moving Average – Here’s Why

Shares of Cemtrex Inc. (NASDAQ:CETX) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $0.91 and traded as low as $0.7550. Cemtrex shares last traded at $0.7550, with a volume of 219,265 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Cemtrex from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Cemtrex Price Performance

The stock’s fifty day moving average price is $0.91 and its 200-day moving average price is $2.10. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.38 and a quick ratio of 1.96. The firm has a market cap of $7.61 million, a price-to-earnings ratio of 0.01 and a beta of 2.08.

Cemtrex (NASDAQ:CETX) last released 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 firm had revenue of $16.13 million for the quarter.

Institutional Investors Weigh In On Cemtrex

Large investors have recently made changes to their positions in the company. Daytona Street Capital LLC acquired a new stake in shares of Cemtrex during the fourth quarter valued at approximately $5,456,000. Millennium Management LLC acquired a new stake in shares of Cemtrex during the fourth quarter valued at approximately $70,000. Engineers Gate Manager LP acquired a new stake in shares of Cemtrex during the fourth quarter valued at approximately $115,000. Jane Street Group LLC acquired a new stake in shares of Cemtrex during the fourth quarter valued at approximately $186,000. Finally, Sabby Management LLC acquired a new stake in shares of Cemtrex during the third quarter valued at approximately $141,000. Institutional investors and hedge funds own 1.97% of the company’s stock.

Cemtrex Company Profile

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.