Cemtrex (NASDAQ:CETX) Stock Crosses Below 50 Day Moving Average – Here’s What Happened

Shares of Cemtrex Inc. (NASDAQ:CETX) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.56 and traded as low as $1.39. Cemtrex shares last traded at $1.40, with a volume of 2,805,944 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cemtrex in a report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Cemtrex Stock Performance

The firm has a fifty day simple moving average of $2.56 and a 200 day simple moving average of $7.80. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53. The stock has a market cap of $11.93 million, a price-to-earnings ratio of -0.01 and a beta of 1.38.

Cemtrex (NASDAQ:CETX) last released its quarterly earnings data on Monday, December 29th. The industrial products company reported ($35.68) EPS for the quarter. The business had revenue of $18.53 million for the quarter. Cemtrex had a negative return on equity of 524.31% and a negative net margin of 36.75%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cemtrex stock. Sabby Management LLC acquired a new stake in Cemtrex Inc. (NASDAQ:CETX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 24,987 shares of the industrial products company’s stock, valued at approximately $141,000. Cemtrex comprises about 0.2% of Sabby Management LLC’s portfolio, making the stock its 19th biggest position. Sabby Management LLC owned about 3.38% of Cemtrex as of its most recent SEC filing. 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.