Cemtrex Inc. (NASDAQ:CETX) Short Interest Down 86.2% in June

Cemtrex Inc. (NASDAQ:CETX) was the recipient of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 115,857 shares, a decrease of 86.2% from the May 31st total of 841,482 shares. Currently, 10.4% of the company’s shares are short sold. Based on an average daily volume of 172,802 shares, the short-interest ratio is currently 0.7 days.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen upgraded Cemtrex from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Weiss Ratings upgraded shares of Cemtrex from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Cemtrex currently has an average rating of “Sell”.

Hedge Funds Weigh In On Cemtrex

Large investors have recently added to or reduced their stakes in the stock. Sabby Management LLC acquired a new position in shares of Cemtrex during the third quarter valued at approximately $141,000. Millennium Management LLC purchased a new stake in shares of Cemtrex in the 4th quarter valued at approximately $70,000. Engineers Gate Manager LP acquired a new stake in shares of Cemtrex during the 4th quarter worth approximately $115,000. Jane Street Group LLC acquired a new stake in shares of Cemtrex during the 4th quarter worth approximately $186,000. Finally, Daytona Street Capital LLC purchased a new stake in shares of Cemtrex during the 4th quarter valued at approximately $5,456,000. 1.97% of the stock is currently owned by institutional investors and hedge funds.

Cemtrex Stock Performance

NASDAQ CETX traded down $0.18 on Friday, reaching $3.06. 60,946 shares of the company’s stock traded hands, compared to its average volume of 283,422. The firm has a market cap of $3.40 million, a price-to-earnings ratio of -0.01 and a beta of 2.04. The stock has a 50 day moving average price of $7.96 and a 200-day moving average price of $13.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.29 and a current ratio of 1.57. Cemtrex has a fifty-two week low of $3.02 and a fifty-two week high of $220.50.

Cemtrex (NASDAQ:CETX) last posted its earnings results on Friday, May 15th. The industrial products company reported $1.10 EPS for the quarter, topping the consensus estimate of ($3,087,000.00) by $3,087,001.10. The firm had revenue of $18.06 million for the quarter, compared to analyst estimates of $8.29 million. Cemtrex had a negative return on equity of 142.99% and a negative net margin of 39.63%.

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.