Cemtrex (NASDAQ:CETX) Posts Quarterly Earnings Results, Beats Estimates By $3,086,996.81 EPS

Cemtrex (NASDAQ:CETX) released its earnings results on Friday. The industrial products company reported ($3.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3,087,000.00) by $3,086,996.81, Zacks reports. Cemtrex had a negative net margin of 39.63% and a negative return on equity of 142.99%. The company had revenue of $18.44 million for the quarter, compared to the consensus estimate of $8.29 million.

Cemtrex Stock Performance

Shares of CETX stock opened at $3.02 on Friday. The company has a 50 day moving average of $3.16 and a 200-day moving average of $7.86. The company has a quick ratio of 1.29, a current ratio of 1.57 and a debt-to-equity ratio of 0.25. Cemtrex has a 12-month low of $2.38 and a 12-month high of $217.50. The firm has a market cap of $3.35 million, a P/E ratio of -0.01 and a beta of 2.11.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cemtrex in a research report on Wednesday. Wall Street Zen raised shares of Cemtrex from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Cemtrex has a consensus rating of “Sell”.

Hedge Funds Weigh In On Cemtrex

Several institutional investors have recently bought and sold shares of CETX. Millennium Management LLC bought a new position in Cemtrex during the fourth quarter valued at $70,000. Engineers Gate Manager LP bought a new stake in shares of Cemtrex in the fourth quarter valued at $115,000. Finally, Jane Street Group LLC bought a new stake in shares of Cemtrex in the fourth quarter valued at $186,000. Hedge funds and other institutional investors own 1.97% of the company’s stock.

About Cemtrex

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.