StockNews.com Initiates Coverage on Cemtrex (NASDAQ:CETX)

StockNews.com initiated coverage on shares of Cemtrex (NASDAQ:CETX) in a research note issued to investors on Tuesday. The firm issued a hold rating on the industrial products company’s stock.

Cemtrex Stock Down 10.8 %

Shares of NASDAQ CETX opened at $1.32 on Tuesday. The firm’s 50-day moving average is $1.92 and its two-hundred day moving average is $5.96. The company has a market capitalization of $2.36 million, a PE ratio of 0.00 and a beta of 1.78. Cemtrex has a 12-month low of $1.31 and a 12-month high of $8,400.00. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.17 and a quick ratio of 1.06.

Cemtrex (NASDAQ:CETX) last posted its quarterly earnings data on Friday, February 14th. The industrial products company reported ($16.15) EPS for the quarter, missing analysts’ consensus estimates of $42.00 by ($58.15). The company had revenue of $13.74 million for the quarter. Cemtrex had a negative return on equity of 1,386.66% and a negative net margin of 54.57%.

Institutional Investors Weigh In On Cemtrex

A hedge fund recently bought a new stake in Cemtrex stock. Ground Swell Capital LLC bought a new position in Cemtrex, Inc. (NASDAQ:CETX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,807 shares of the industrial products company’s stock, valued at approximately $40,000. Ground Swell Capital LLC owned 0.78% of Cemtrex at the end of the most recent reporting period. 1.97% of the stock is owned by hedge funds and other institutional investors.

About Cemtrex

Cemtrex, Inc engages in the provision of solutions in the technology industry. It operates through the following segments: Security, Industrial Services, and Cemtrex Corporate. The Security segment provides end-to-end security solutions to meet corporate, industrial, and governmental security challenges.