Arotech Corp. (ARTX) Stock Price Up 7.5%
Shares of Arotech Corp. (NASDAQ:ARTX) rose 7.5% on Tuesday . The company traded as high as $3.20 and last traded at $3.14, with a volume of 341,884 shares changing hands. The stock had previously closed at $2.92.
ARTX has been the subject of a number of research reports. TheStreet upgraded Arotech Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, July 7th. Zacks Investment Research upgraded Arotech Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Finally, B. Riley restated a “buy” rating and issued a $4.50 target price on shares of Arotech Corp. in a research note on Thursday, August 4th.
The company has a 50 day moving average price of $2.83 and a 200 day moving average price of $2.89. The stock’s market capitalization is $79.45 million.
Arotech Corp. (NASDAQ:ARTX) last released its earnings results on Monday, August 8th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The firm earned $21.80 million during the quarter, compared to the consensus estimate of $21.60 million. Arotech Corp. had a positive return on equity of 2.25% and a negative net margin of 1.70%. Equities research analysts anticipate that Arotech Corp. will post ($0.09) EPS for the current year.
In related news, Chairman Jon B. Kutler bought 10,000 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was purchased at an average cost of $2.60 per share, for a total transaction of $26,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 17.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. EAM Investors LLC bought a new stake in Arotech Corp. during the second quarter worth $1,337,000. Oxford Asset Management bought a new stake in Arotech Corp. during the second quarter worth $971,000. Dimensional Fund Advisors LP increased its stake in Arotech Corp. by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 472,215 shares of the company’s stock worth $1,327,000 after buying an additional 11,609 shares during the last quarter. Vanguard Group Inc. increased its stake in Arotech Corp. by 24.0% in the second quarter. Vanguard Group Inc. now owns 942,064 shares of the company’s stock worth $2,647,000 after buying an additional 182,544 shares during the last quarter. Finally, TFS Capital LLC bought a new stake in Arotech Corp. during the second quarter worth $138,000. Hedge funds and other institutional investors own 16.00% of the company’s stock.
About Arotech Corp.
Arotech Corporation is a defense and security products and services company, engaged in providing interactive simulation for military, law enforcement and commercial markets, and batteries and charging systems for the military, commercial and medical markets. The Company operates through two segments: Training and Simulation Division, and Power Systems Division.
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