Arotech Corp. (ARTX) Upgraded by Zacks Investment Research to Hold
According to Zacks, “Arotech Corporation operates two business divisions: Electric Fuel Batteries — developing and manufacturing zinc-air batteries for military and homeland security applications and developing electric vehicle batteries for zero emission public transportation; and Arotech Defense — consisting of IES Interactive, which provides advanced high-tech multimedia training systems for law enforcement and paramilitary organizations, MDT Armor, which provides vehicle armoring for the military, industrial and private sectors, and Arcon Security. “
Other equities analysts have also issued research reports about the stock. B. Riley reissued a buy rating and issued a $4.50 price target on shares of Arotech Corp. in a report on Sunday, August 14th. TheStreet raised shares of Arotech Corp. from a sell rating to a hold rating in a report on Thursday, July 7th.
Shares of Arotech Corp. (NASDAQ:ARTX) opened at 3.28 on Tuesday. Arotech Corp. has a 12 month low of $1.32 and a 12 month high of $4.13. The firm has a 50-day moving average of $2.98 and a 200-day moving average of $2.95. The firm’s market cap is $83.26 million.
Arotech Corp. (NASDAQ:ARTX) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. The firm had revenue of $21.80 million for the quarter, compared to analyst estimates of $21.60 million. Arotech Corp. had a negative net margin of 1.70% and a positive return on equity of 2.25%. On average, analysts anticipate that Arotech Corp. will post ($0.09) EPS for the current year.
In other Arotech Corp. news, Chairman Jon B. Kutler bought 10,000 shares of Arotech Corp. stock in a transaction that occurred on Monday, August 22nd. The shares were bought at an average price of $2.60 per share, with a total value of $26,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 17.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. TFS Capital LLC acquired a new position in Arotech Corp. during the second quarter valued at approximately $138,000. Spark Investment Management LLC raised its position in Arotech Corp. by 510.8% in the second quarter. Spark Investment Management LLC now owns 158,800 shares of the company’s stock valued at $446,000 after buying an additional 132,800 shares in the last quarter. Cannell Capital LLC acquired a new position in Arotech Corp. during the second quarter valued at approximately $938,000. Oxford Asset Management acquired a new position in Arotech Corp. during the second quarter valued at approximately $971,000. Finally, Dimensional Fund Advisors LP raised its position in Arotech Corp. by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 472,215 shares of the company’s stock valued at $1,327,000 after buying an additional 11,609 shares in the last quarter. 16.00% of the stock is currently owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Arotech Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arotech Corp. and related companies with MarketBeat.com's FREE daily email newsletter.