Cemtrex (NASDAQ:CETX) Stock Crosses Below 50-Day Moving Average – Here’s Why

Cemtrex Inc. (NASDAQ:CETX) shares passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $2.74 and traded as low as $2.49. Cemtrex shares last traded at $2.54, with a volume of 18,143 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cemtrex in a report on Wednesday, August 12th. Wall Street Zen upgraded shares of Cemtrex from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Cemtrex currently has an average rating of “Sell”.

Cemtrex Stock Up 0.4%

The business has a 50 day moving average of $2.74 and a two-hundred day moving average of $6.20. The stock has a market capitalization of $2.82 million, a PE ratio of -0.03 and a beta of 2.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.54.

Cemtrex (NASDAQ:CETX) last posted its earnings results on Friday, August 14th. The industrial products company reported ($3.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3,087,000.00) by $3,086,996.81. The company had revenue of $18.44 million for the quarter, compared to analyst estimates of $8.29 million. Cemtrex had a negative return on equity of 129.15% and a negative net margin of 38.59%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Millennium Management LLC acquired a new stake in Cemtrex in the fourth quarter valued at approximately $70,000. Engineers Gate Manager LP purchased a new position in Cemtrex in the fourth quarter worth $115,000. Finally, Jane Street Group LLC acquired a new position in shares of Cemtrex during the fourth quarter worth $186,000. Institutional investors 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.