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

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

Cemtrex Stock Performance

Shares of Cemtrex stock traded down $0.18 on Friday, reaching $3.06. 60,946 shares of the stock were exchanged, compared to its average volume of 283,422. The firm has a market capitalization of $3.40 million, a PE ratio of -0.01 and a beta of 2.04. The business has a fifty day moving average price of $7.96 and a two-hundred day moving average price of $13.94. Cemtrex has a 1-year low of $3.02 and a 1-year high of $220.50. The company has a current ratio of 1.57, a quick ratio of 1.29 and a debt-to-equity ratio of 0.25.

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

Institutional Investors Weigh In On Cemtrex

Large investors have recently added to or reduced their stakes in the business. Daytona Street Capital LLC purchased a new position in shares of Cemtrex during the 4th quarter worth approximately $5,456,000. Millennium Management LLC purchased a new stake in Cemtrex in the 4th quarter valued at approximately $70,000. Engineers Gate Manager LP acquired a new stake in Cemtrex during the 4th quarter valued at $115,000. Jane Street Group LLC acquired a new stake in Cemtrex during the 4th quarter valued at $186,000. Finally, Sabby Management LLC acquired a new stake in Cemtrex during the 3rd quarter valued at $141,000. 1.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CETX. Wall Street Zen upgraded shares of Cemtrex from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Weiss Ratings raised Cemtrex from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

About Cemtrex

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.