Cemtrex (NASDAQ:CETX) Releases Earnings Results, Beats Expectations By $3,087,000.11 EPS

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

Cemtrex Trading Down 7.4%

Shares of CETX traded down $0.22 during mid-day trading on Monday, reaching $2.75. The company’s stock had a trading volume of 551,008 shares, compared to its average volume of 486,142. The stock has a market cap of $3.05 million, a PE ratio of -0.01 and a beta of 2.11. The company has a current ratio of 1.57, a quick ratio of 1.29 and a debt-to-equity ratio of 0.25. The company’s fifty day moving average price is $6.85 and its two-hundred day moving average price is $12.34. Cemtrex has a 52 week low of $2.59 and a 52 week high of $220.50.

Institutional Investors Weigh In On Cemtrex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in shares of Cemtrex in the 4th quarter worth approximately $186,000. Engineers Gate Manager LP purchased a new stake in shares of Cemtrex in the fourth quarter valued at approximately $115,000. Finally, Millennium Management LLC bought a new position in Cemtrex in the fourth quarter worth approximately $70,000. 1.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CETX has been the subject of a number of research analyst reports. 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 report on Friday, May 15th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

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.