Arotech (ARTX) Lowered to “Sell” at Zacks Investment Research
Arotech (NASDAQ:ARTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
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. “
Separately, B. Riley reissued a “buy” rating and set a $4.50 target price on shares of Arotech in a research note on Friday, November 10th.
Arotech (NASDAQ:ARTX) last posted its earnings results on Wednesday, November 8th. The aerospace company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). Arotech had a positive return on equity of 3.27% and a negative net margin of 2.87%. The business had revenue of $25.93 million for the quarter, compared to the consensus estimate of $24.48 million. analysts anticipate that Arotech will post 0.14 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Zacks Investment Management bought a new position in shares of Arotech during the 2nd quarter worth approximately $149,000. Vanguard Group Inc. grew its stake in shares of Arotech by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,038,240 shares of the aerospace company’s stock worth $3,686,000 after acquiring an additional 19,082 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of Arotech by 105.1% during the 2nd quarter. GSA Capital Partners LLP now owns 166,100 shares of the aerospace company’s stock worth $590,000 after acquiring an additional 85,100 shares in the last quarter. 20.89% of the stock is owned by institutional investors.
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Arotech Company Profile
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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