Cemtrex (NASDAQ:CETX) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Cemtrex (NASDAQ:CETX) in a research note issued to investors on Thursday. The firm issued a hold rating on the industrial products company’s stock.

Cemtrex Stock Up 1.0 %

CETX stock opened at $3.06 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.64 and a debt-to-equity ratio of 0.92. The company’s 50 day simple moving average is $3.63 and its 200-day simple moving average is $4.40. Cemtrex has a 12 month low of $2.91 and a 12 month high of $11.45.

Cemtrex (NASDAQ:CETX) last posted its earnings results on Monday, February 12th. The industrial products company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.29). The company had revenue of $16.88 million during the quarter, compared to analysts’ expectations of $15.79 million. Cemtrex had a negative net margin of 6.41% and a negative return on equity of 56.88%. During the same period in the previous year, the company posted ($3.99) EPS.

Institutional Trading of Cemtrex

A hedge fund recently bought a new stake in Cemtrex stock. Renaissance Technologies LLC purchased a new position in shares of Cemtrex, Inc. (NASDAQ:CETX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 144,688 shares of the industrial products company’s stock, valued at approximately $40,000. Renaissance Technologies LLC owned approximately 0.59% of Cemtrex at the end of the most recent reporting period. 1.97% of the stock is owned by hedge funds and other institutional investors.

About Cemtrex

Cemtrex, Inc operates as a technology company in the United States and internationally. It operates through Security, Industrial Services, and Cemtrex Corporate segments. The company offers browser-based video monitoring and analytics-based recognition systems, cameras, servers, and access control systems for security and surveillance in industrial and commercial facilities, federal prisons, hospitals, universities, schools, and federal and state government offices; and provides critical security and video surveillance solutions utilizing artificial intelligence based data algorithms.