Cemtrex (NASDAQ:CETX) Share Price Passes Below Fifty Day Moving Average – Should You Sell?

Cemtrex Inc. (NASDAQ:CETX)’s stock price 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.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Cemtrex from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Cemtrex Trading Down 1.8%

The company has a market capitalization of $8.06 million, a P/E 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 has a 50-day simple moving average of $0.90 and a 200 day simple moving average of $2.06.

Cemtrex (NASDAQ:CETX) last released its quarterly earnings data on Friday, May 15th. The industrial products company reported $999.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($308,700.00) by $309,699.00. Cemtrex had a negative return on equity of 127.57% and a negative net margin of 25.25%.

Hedge Funds Weigh In On Cemtrex

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