Arotech Co. (NASDAQ:ARTX) Short Interest Down 16.9% in September

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Arotech Co. (NASDAQ:ARTX) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 264,500 shares, a decrease of 16.9% from the August 30th total of 318,300 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average trading volume of 261,800 shares, the short-interest ratio is currently 1.0 days.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. River & Mercantile Asset Management LLP acquired a new stake in shares of Arotech during the 2nd quarter worth approximately $863,000. BlackRock Inc. increased its holdings in shares of Arotech by 45.0% during the 2nd quarter. BlackRock Inc. now owns 112,810 shares of the aerospace company’s stock worth $224,000 after buying an additional 35,020 shares during the last quarter. ETF Managers Group LLC increased its holdings in shares of Arotech by 26.3% during the 2nd quarter. ETF Managers Group LLC now owns 101,436 shares of the aerospace company’s stock worth $198,000 after buying an additional 21,149 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Arotech by 141.0% during the 1st quarter. Acadian Asset Management LLC now owns 87,295 shares of the aerospace company’s stock worth $256,000 after buying an additional 51,067 shares during the last quarter. Finally, Delek Group Ltd. increased its holdings in shares of Arotech by 12.6% during the 2nd quarter. Delek Group Ltd. now owns 58,985 shares of the aerospace company’s stock worth $115,000 after buying an additional 6,587 shares during the last quarter. Institutional investors and hedge funds own 33.90% of the company’s stock.

Shares of NASDAQ ARTX opened at $2.97 on Tuesday. The company has a 50 day simple moving average of $2.61 and a 200-day simple moving average of $2.40. The company has a market capitalization of $78.93 million, a P/E ratio of 18.53 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.70 and a quick ratio of 1.43. Arotech has a 1 year low of $1.61 and a 1 year high of $3.66.

Arotech (NASDAQ:ARTX) last announced its quarterly earnings results on Wednesday, August 7th. The aerospace company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The business had revenue of $23.27 million during the quarter, compared to the consensus estimate of $21.58 million. Arotech had a net margin of 0.19% and a return on equity of 2.79%. During the same quarter last year, the firm earned $0.03 EPS. As a group, research analysts expect that Arotech will post 0.12 EPS for the current year.

A number of analysts have commented on ARTX shares. ValuEngine upgraded shares of Arotech from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. B. Riley set a $4.50 price objective on shares of Arotech and gave the company a “buy” rating in a report on Monday, September 23rd. TheStreet upgraded shares of Arotech from a “d+” rating to a “c-” rating in a report on Friday, September 27th. Finally, Zacks Investment Research upgraded shares of Arotech from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a report on Thursday, August 8th.

About Arotech

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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