Arotech (NASDAQ:ARTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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, TheStreet downgraded Arotech from a “b-” rating to a “c” rating in a research report on Tuesday, July 3rd.
Arotech (NASDAQ:ARTX) last released its quarterly earnings results on Thursday, May 10th. The aerospace company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Arotech had a return on equity of 7.56% and a net margin of 5.02%. The firm had revenue of $27.25 million during the quarter, compared to the consensus estimate of $25.75 million. analysts anticipate that Arotech will post 0.16 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in shares of Arotech during the 4th quarter worth approximately $187,000. Spark Investment Management LLC raised its stake in shares of Arotech by 155.0% during the 1st quarter. Spark Investment Management LLC now owns 38,500 shares of the aerospace company’s stock worth $117,000 after purchasing an additional 23,400 shares in the last quarter. Cannell Capital LLC raised its stake in shares of Arotech by 2.7% during the 1st quarter. Cannell Capital LLC now owns 1,817,418 shares of the aerospace company’s stock worth $5,543,000 after purchasing an additional 47,256 shares in the last quarter. Ancora Advisors LLC bought a new stake in shares of Arotech during the 1st quarter worth approximately $782,000. Finally, Citadel Advisors LLC raised its stake in shares of Arotech by 132.1% during the 4th quarter. Citadel Advisors LLC now owns 50,115 shares of the aerospace company’s stock worth $178,000 after purchasing an additional 28,526 shares in the last quarter. 23.95% of the stock is owned by hedge funds and other institutional investors.
Arotech Corporation provides defense and security products worldwide. The company's Training and Simulation division develops, manufactures, and markets multimedia and interactive digital solutions for engineering, use-of-force training, and operator training of military, law enforcement, security, emergency services, and other personnel.
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