Schmitt Industries (NASDAQ:SMIT) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of Schmitt Industries (NASDAQ:SMIT) from a sell rating to a hold rating in a report released on Tuesday morning, ValuEngine reports.

Shares of SMIT traded up $0.05 during trading hours on Tuesday, reaching $2.16. 3 shares of the company traded hands, compared to its average volume of 5,219. Schmitt Industries has a fifty-two week low of $1.87 and a fifty-two week high of $3.01. The stock has a fifty day simple moving average of $2.08 and a 200 day simple moving average of $2.25.

Schmitt Industries (NASDAQ:SMIT) last posted its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $0.03 EPS for the quarter. The business had revenue of $3.78 million for the quarter. Schmitt Industries had a negative return on equity of 1.14% and a negative net margin of 8.02%.

Schmitt Industries Company Profile

Schmitt Industries, Inc, together with its subsidiaries, designs, manufactures, and sells test and measurement products worldwide. The company's Balancer segment offers computer-controlled vibration detection, balancing, and process control systems. Its products comprise Schmitt Dynamic Balance System, which consists of a vibration sensor, a computer control unit, and a balance head; SB-5500, an optional acoustic emission monitoring system (AEMS) control card to monitor the AE signals generated on the grinding machine; process control cards to provide enhanced control of the grinding process; SB-2000, a compact manual balancing system; and AE-1000, an AE control platform, which reduces air machine grinding time.

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