Zacks Investment Research downgraded shares of Arotech Corporation (NASDAQ:ARTX) from a hold rating to a sell rating in a research note published on Monday.

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. “

Separately, B. Riley restated a buy rating and issued a $4.50 price target on shares of Arotech Corporation in a research note on Monday, August 7th.

Shares of Arotech Corporation (NASDAQ:ARTX) opened at 4.05 on Monday. The firm’s 50-day moving average price is $3.59 and its 200-day moving average price is $3.42. The firm’s market capitalization is $106.17 million. Arotech Corporation has a 52-week low of $2.25 and a 52-week high of $5.00.

Arotech Corporation (NASDAQ:ARTX) last issued its quarterly earnings data on Tuesday, August 8th. The aerospace company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.02). The firm had revenue of $21.45 million during the quarter, compared to the consensus estimate of $22.70 million. Arotech Corporation had a negative net margin of 3.09% and a positive return on equity of 3.20%. During the same quarter in the prior year, the business earned ($0.03) earnings per share. On average, equities analysts predict that Arotech Corporation will post $0.18 earnings per share for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in the business. Cannell Capital LLC grew its stake in shares of Arotech Corporation by 18.2% in the first quarter. Cannell Capital LLC now owns 1,179,465 shares of the aerospace company’s stock worth $3,479,000 after purchasing an additional 181,902 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Arotech Corporation by 32.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,082,745 shares of the aerospace company’s stock valued at $3,194,000 after purchasing an additional 264,407 shares during the period. Vanguard Group Inc. increased its holdings in shares of Arotech Corporation by 1.9% during the second quarter. Vanguard Group Inc. now owns 1,038,240 shares of the aerospace company’s stock valued at $3,686,000 after purchasing an additional 19,082 shares during the period. Essex Investment Management Co. LLC increased its holdings in shares of Arotech Corporation by 35.9% during the second quarter. Essex Investment Management Co. LLC now owns 436,266 shares of the aerospace company’s stock valued at $1,549,000 after purchasing an additional 115,254 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in shares of Arotech Corporation by 105.1% during the second quarter. GSA Capital Partners LLP now owns 166,100 shares of the aerospace company’s stock valued at $590,000 after purchasing an additional 85,100 shares during the period. Institutional investors own 21.57% of the company’s stock.

About Arotech Corporation

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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