Cemtrex (NASDAQ:CETX) Stock Passes Below Fifty Day Moving Average – Time to Sell?

Cemtrex Inc. (NASDAQ:CETX)’s share price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.01 and traded as low as $2.90. Cemtrex shares last traded at $3.06, with a volume of 160,836 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on CETX. Wall Street Zen upgraded shares of Cemtrex from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Weiss Ratings raised shares of Cemtrex from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Cemtrex currently has an average rating of “Sell”.

Cemtrex Trading Up 3.7%

The company’s fifty day moving average is $5.01 and its two-hundred day moving average is $10.33. The company has a quick ratio of 1.29, a current ratio of 1.57 and a debt-to-equity ratio of 0.25. The stock has a market cap of $3.40 million, a price-to-earnings ratio of -0.01 and a beta of 2.11.

Cemtrex (NASDAQ:CETX) last posted its quarterly earnings results on Friday, May 15th. The industrial products company reported $0.11 EPS for the quarter, topping the consensus estimate of ($3,087,000.00) by $3,087,000.11. Cemtrex had a negative net margin of 39.63% and a negative return on equity of 142.99%. The company had revenue of $18.06 million during the quarter, compared to analysts’ expectations of $8.29 million.

Hedge Funds Weigh In On Cemtrex

A number of institutional investors and hedge funds have recently modified their holdings of CETX. Daytona Street Capital LLC purchased a new position in Cemtrex in the fourth quarter valued at $5,456,000. Jane Street Group LLC purchased a new stake in Cemtrex during the 4th quarter worth about $186,000. Engineers Gate Manager LP purchased a new stake in Cemtrex during the 4th quarter worth about $115,000. Finally, Millennium Management LLC acquired a new position in shares of Cemtrex during the 4th quarter worth about $70,000. 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.