Arotech Corp. (ARTX) Upgraded by Zacks Investment Research to Hold
According to Zacks, “Arotech Corporation operates two business divisions: Electric Fuel Batteries — developing and manufacturing zinc-air batteries for military and homeland security applications and developing electric vehicle batteries for zero emission public transportation; and Arotech Defense — consisting of IES Interactive, which provides advanced high-tech multimedia training systems for law enforcement and paramilitary organizations, MDT Armor, which provides vehicle armoring for the military, industrial and private sectors, and Arcon Security. “
Several other research analysts have also recently weighed in on ARTX. TheStreet raised shares of Arotech Corp. from a sell rating to a hold rating in a report on Thursday, July 7th. B. Riley reissued a buy rating and issued a $4.50 price target on shares of Arotech Corp. in a report on Thursday, August 4th.
Arotech Corp. (NASDAQ:ARTX) opened at 3.28 on Tuesday. The firm’s market capitalization is $83.26 million. Arotech Corp. has a 12 month low of $1.32 and a 12 month high of $4.13. The stock’s 50 day moving average price is $2.98 and its 200 day moving average price is $2.95.
Arotech Corp. (NASDAQ:ARTX) last issued its earnings results on Monday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Arotech Corp. had a negative net margin of 1.70% and a positive return on equity of 2.25%. The business earned $21.80 million during the quarter, compared to the consensus estimate of $21.60 million. Equities research analysts expect that Arotech Corp. will post ($0.09) earnings per share for the current fiscal year.
In other news, Chairman Jon B. Kutler acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were acquired at an average cost of $2.60 per share, with a total value of $26,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 17.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. TFS Capital LLC purchased a new position in shares of Arotech Corp. during the second quarter worth about $138,000. Spark Investment Management LLC boosted its position in shares of Arotech Corp. by 510.8% in the second quarter. Spark Investment Management LLC now owns 158,800 shares of the company’s stock worth $446,000 after buying an additional 132,800 shares during the period. Cannell Capital LLC bought a new stake in shares of Arotech Corp. during the second quarter worth $938,000. Oxford Asset Management bought a new stake in shares of Arotech Corp. during the second quarter worth $971,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Arotech Corp. by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 472,215 shares of the company’s stock worth $1,327,000 after buying an additional 11,609 shares in the last quarter. 16.00% of the stock is currently owned by institutional investors and hedge funds.
Arotech Corp. Company Profile
Arotech Corporation is a defense and security products and services company, engaged in providing interactive simulation for military, law enforcement and commercial markets, and batteries and charging systems for the military, commercial and medical markets. The Company operates through two segments: Training and Simulation Division, and Power Systems Division.
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