Cemtrex Inc. (NASDAQ:CETX) Sees Large Decline in Short Interest

Cemtrex Inc. (NASDAQ:CETX) was the recipient of a large decline in short interest in January. As of January 30th, there was short interest totaling 516,410 shares, a decline of 29.5% from the January 15th total of 732,825 shares. Approximately 6.0% of the company’s stock are short sold. Based on an average trading volume of 1,183,942 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 1,183,942 shares, the days-to-cover ratio is currently 0.4 days. Approximately 6.0% of the company’s stock are short sold.

Cemtrex Price Performance

Shares of NASDAQ:CETX remained flat at $1.40 during trading on Friday. 415,464 shares of the stock traded hands, compared to its average volume of 1,170,310. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.94 and a current ratio of 1.22. The business’s 50-day simple moving average is $2.39 and its two-hundred day simple moving average is $6.99. Cemtrex has a 52-week low of $1.36 and a 52-week high of $42.60. The stock has a market capitalization of $12.04 million, a P/E ratio of -0.01 and a beta of 1.38.

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

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cemtrex in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Sabby Management LLC purchased a new position in shares of Cemtrex in the third quarter worth about $141,000. Daytona Street Capital LLC acquired a new position in shares of Cemtrex in the fourth quarter valued at approximately $5,456,000. Finally, Jane Street Group LLC purchased a new position in shares of Cemtrex in the 4th quarter valued at about $186,000. 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.