Cemtrex (NASDAQ:CETX) Stock Crosses Below Fifty Day Moving Average – What’s Next?

Shares of Cemtrex Inc. (NASDAQ:CETX) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.56 and traded as low as $1.39. Cemtrex shares last traded at $1.40, with a volume of 2,805,944 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cemtrex in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Cemtrex presently has an average rating of “Sell”.

Cemtrex Price Performance

The stock has a market cap of $13.93 million, a P/E ratio of -0.01 and a beta of 1.38. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53. The company’s fifty day simple moving average is $2.53 and its 200-day simple moving average is $7.61.

Cemtrex (NASDAQ:CETX) last issued its earnings results on Monday, December 29th. The industrial products company reported ($35.68) earnings per share (EPS) for the quarter. Cemtrex had a negative return on equity of 524.31% and a negative net margin of 36.75%.The company had revenue of $18.53 million during the quarter.

Hedge Funds Weigh In On Cemtrex

An institutional investor recently bought a new position in Cemtrex stock. Sabby Management LLC purchased a new stake in Cemtrex Inc. (NASDAQ:CETX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 24,987 shares of the industrial products company’s stock, valued at approximately $141,000. Cemtrex makes up about 0.2% of Sabby Management LLC’s holdings, making the stock its 19th biggest position. Sabby Management LLC owned about 3.38% of Cemtrex at the end of the most recent reporting period. Institutional investors and hedge funds own 1.97% of the company’s stock.

Cemtrex Company Profile

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.