Arotech Corp. (ARTX) Sees Strong Trading Volume
Shares of Arotech Corp. (NASDAQ:ARTX) saw unusually-strong trading volume on Monday . Approximately 111,132 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 122,770 shares.The stock last traded at $2.79 and had previously closed at $2.79.
A number of research analysts have weighed in on ARTX shares. B. Riley reaffirmed a “buy” rating and issued a $4.50 price target on shares of Arotech Corp. in a research note on Saturday, May 14th. Zacks Investment Research lowered shares of Arotech Corp. from a “buy” rating to a “hold” rating in a research report on Monday, May 16th. Finally, TheStreet raised shares of Arotech Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th.
The company has a 50 day moving average price of $2.84 and a 200 day moving average price of $2.74. The firm’s market cap is $68.19 million.
Arotech Corp. (NASDAQ:ARTX) last posted its earnings results on Monday, May 9th. The company reported $0.03 earnings per share for the quarter. The firm earned $25.40 million during the quarter, compared to the consensus estimate of $26.73 million. During the same period in the prior year, the company posted ($0.02) EPS. On average, equities research analysts forecast that Arotech Corp. will post ($0.06) EPS for the current year.
In other news, Chairman Jon B. Kutler bought 39,179 shares of the stock in a transaction on Friday, June 3rd. The shares were bought at an average price of $2.68 per share, with a total value of $104,999.72. Following the completion of the acquisition, the chairman now owns 24,907 shares in the company, valued at $66,750.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert S. Ehrlich sold 10,000 shares of the stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $3.03, for a total value of $30,300.00. Following the completion of the transaction, the director now directly owns 1,174,178 shares in the company, valued at approximately $3,557,759.34. The disclosure for this sale can be found here.
Arotech Corporation is a defense and security products and services company, engaged in providing interactive simulation for military, law enforcement and commercial markets, and power systems and batteries for the military, commercial and medical markets. The Company operates in two divisions: Training and Simulation Division, and Power Systems Division.
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