Arotech Corporation (ARTX) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Arotech Corporation (NASDAQ:ARTX) from a sell rating to a hold rating in a research note published on Wednesday.

According to Zacks, “Arotech Corporation operates two business divisions: Electric Fuel Batteries — developing and manufacturing zinc-air batteries for military and homeland security applications and developing electric vehicle batteries for zero emission public transportation; and Arotech Defense — consisting of IES Interactive, which provides advanced high-tech multimedia training systems for law enforcement and paramilitary organizations, MDT Armor, which provides vehicle armoring for the military, industrial and private sectors, and Arcon Security. “

Separately, B. Riley restated a buy rating and issued a $4.50 price target on shares of Arotech Corporation in a report on Monday, August 7th.

Shares of Arotech Corporation (ARTX) opened at 3.85 on Wednesday. The company’s market capitalization is $100.93 million. The company has a 50-day moving average of $3.77 and a 200 day moving average of $3.48. Arotech Corporation has a 52-week low of $2.25 and a 52-week high of $5.00.

Arotech Corporation (NASDAQ:ARTX) last posted its quarterly earnings results on Tuesday, August 8th. The aerospace company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $21.45 million during the quarter, compared to analyst estimates of $22.70 million. Arotech Corporation had a positive return on equity of 3.20% and a negative net margin of 3.09%. During the same quarter in the previous year, the business posted ($0.03) earnings per share. Analysts predict that Arotech Corporation will post $0.18 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Zacks Investment Management acquired a new position in shares of Arotech Corporation during the second quarter valued at about $149,000. Vanguard Group Inc. grew its holdings in shares of Arotech Corporation by 1.9% during the second quarter. Vanguard Group Inc. now owns 1,038,240 shares of the aerospace company’s stock valued at $3,686,000 after buying an additional 19,082 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of Arotech Corporation by 105.1% during the second quarter. GSA Capital Partners LLP now owns 166,100 shares of the aerospace company’s stock valued at $590,000 after buying an additional 85,100 shares during the last quarter. Essex Investment Management Co. LLC grew its holdings in shares of Arotech Corporation by 35.9% during the second quarter. Essex Investment Management Co. LLC now owns 436,266 shares of the aerospace company’s stock valued at $1,549,000 after buying an additional 115,254 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Arotech Corporation by 73.5% during the first quarter. Goldman Sachs Group Inc. now owns 48,311 shares of the aerospace company’s stock valued at $143,000 after buying an additional 20,461 shares during the last quarter. Hedge funds and other institutional investors own 21.57% of the company’s stock.

Arotech Corporation Company Profile

Arotech Corporation is a defense and security products and services company, engaged in providing interactive simulation for military, law enforcement and commercial markets, and batteries and charging systems for the military, commercial and medical markets. The Company operates through two segments: Training and Simulation Division, and Power Systems Division.

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