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

Cemtrex Inc. (NASDAQ:CETX) shares passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $1.66 and traded as low as $0.76. Cemtrex shares last traded at $0.7674, with a volume of 2,194,039 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cemtrex in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Cemtrex Price Performance

The business’s 50 day moving average price is $1.66 and its 200 day moving average price is $4.73. The stock has a market capitalization of $7.74 million, a P/E ratio of 0.01 and a beta of 1.38. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.38 and a quick ratio of 1.96.

Cemtrex (NASDAQ:CETX) last issued its quarterly earnings data on Tuesday, February 17th. The industrial products company reported ($7.91) earnings per share for the quarter. Cemtrex had a negative net margin of 25.25% and a negative return on equity of 127.57%. The company had revenue of $16.13 million for the quarter.

Hedge Funds Weigh In On Cemtrex

Several hedge funds and other institutional investors have recently modified their holdings of CETX. Jane Street Group LLC purchased a new position in shares of Cemtrex in the 4th quarter worth $186,000. Engineers Gate Manager LP bought a new stake in shares of Cemtrex in the fourth quarter worth $115,000. Millennium Management LLC purchased a new stake in Cemtrex during the fourth quarter valued at $70,000. Daytona Street Capital LLC purchased a new stake in Cemtrex during the fourth quarter valued at $5,456,000. Finally, Sabby Management LLC bought a new position in Cemtrex in the third quarter valued at about $141,000. 1.97% of the stock is owned by institutional investors.

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.