Cemtrex (NASDAQ:CETX) Stock Price Passes Below Fifty Day Moving Average – Here’s Why

Shares of Cemtrex Inc. (NASDAQ:CETX) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $0.91 and traded as low as $0.7550. Cemtrex shares last traded at $0.7550, with a volume of 219,265 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Cemtrex from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Cemtrex presently has a consensus rating of “Sell”.

Cemtrex Trading Down 5.3%

The stock has a market cap of $7.61 million, a price-to-earnings ratio of 0.01 and a beta of 2.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.96 and a current ratio of 2.38. The company’s 50 day simple moving average is $0.91 and its two-hundred day simple moving average is $2.10.

Cemtrex (NASDAQ:CETX) last released its quarterly earnings data on Tuesday, February 17th. The industrial products company reported ($7.91) earnings per share for the quarter. The company had revenue of $16.13 million during the quarter. Cemtrex had a negative net margin of 25.25% and a negative return on equity of 127.57%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC acquired a new position in Cemtrex in the 4th quarter valued at approximately $70,000. Engineers Gate Manager LP acquired a new position in Cemtrex in the 4th quarter valued at approximately $115,000. Jane Street Group LLC bought a new stake in Cemtrex in the fourth quarter worth approximately $186,000. Daytona Street Capital LLC bought a new stake in Cemtrex in the fourth quarter worth approximately $5,456,000. Finally, Sabby Management LLC bought a new stake in Cemtrex in the third quarter worth approximately $141,000. 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.