Cemtrex (NASDAQ:CETX) Share Price Passes Below 50-Day Moving Average – What’s Next?

Cemtrex Inc. (NASDAQ:CETX) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $1.34 and traded as low as $0.5919. Cemtrex shares last traded at $0.5976, with a volume of 158,486 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cemtrex in a report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Cemtrex has a consensus rating of “Sell”.

Cemtrex Trading Down 14.0%

The company’s 50 day simple moving average is $1.27 and its two-hundred day simple moving average is $3.62. The company has a quick ratio of 1.96, a current ratio of 2.38 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $5.56 million, a price-to-earnings ratio of 0.01 and a beta of 1.38.

Cemtrex (NASDAQ:CETX) last issued its quarterly earnings results on Tuesday, February 17th. The industrial products company reported ($7.91) earnings per share (EPS) for the quarter. Cemtrex had a negative return on equity of 127.57% and a negative net margin of 25.25%.The business had revenue of $16.13 million for the quarter.

Institutional Investors Weigh In On Cemtrex

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

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.