Arotech Corporation (NASDAQ:ARTX) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Arotech Corporation (NASDAQ:ARTX) from a buy rating to a hold rating in a research note issued to investors on Tuesday, July 11th.

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. “

A number of other research firms have also recently weighed in on ARTX. B. Riley reiterated a buy rating and set a $4.50 target price on shares of Arotech Corporation in a research note on Monday, May 15th. ValuEngine upgraded Arotech Corporation from a sell rating to a hold rating in a research note on Wednesday, May 17th.

Shares of Arotech Corporation (NASDAQ:ARTX) traded up 1.45% during trading on Tuesday, hitting $3.50. 294,947 shares of the stock traded hands. Arotech Corporation has a 12 month low of $2.25 and a 12 month high of $5.00. The stock’s market cap is $91.59 million. The firm’s 50-day moving average price is $3.67 and its 200-day moving average price is $3.56.

Arotech Corporation (NASDAQ:ARTX) last issued its earnings results on Tuesday, August 8th. The aerospace company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.02. Arotech Corporation had a positive return on equity of 1.59% and a negative net margin of 3.31%. During the same period in the previous year, the firm posted ($0.03) EPS. Analysts anticipate that Arotech Corporation will post $0.09 EPS for the current year.

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A number of large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Arotech Corporation by 50.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 818,338 shares of the aerospace company’s stock valued at $2,864,000 after buying an additional 274,857 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Arotech Corporation by 150.9% in the fourth quarter. Renaissance Technologies LLC now owns 733,900 shares of the aerospace company’s stock worth $2,569,000 after buying an additional 441,400 shares during the period. A.R.T. Advisors LLC acquired a new position in shares of Arotech Corporation during the fourth quarter worth approximately $152,000. GSA Capital Partners LLP raised its position in shares of Arotech Corporation by 19.4% in the fourth quarter. GSA Capital Partners LLP now owns 43,000 shares of the aerospace company’s stock worth $151,000 after buying an additional 7,000 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of Arotech Corporation by 225.1% in the first quarter. Acadian Asset Management LLC now owns 175,713 shares of the aerospace company’s stock worth $519,000 after buying an additional 121,669 shares during the period. 21.16% of the stock is currently owned by hedge funds and other institutional investors.

About Arotech Corporation

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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