Cemtrex (CETX) Stock Price Up 8.7%

Cemtrex Inc (NASDAQ:CETX)’s share price rose 8.7% during mid-day trading on Thursday . The company traded as high as $0.35 and last traded at $0.25. Approximately 1,613,685 shares traded hands during mid-day trading, an increase of 562% from the average daily volume of 243,837 shares. The stock had previously closed at $0.23.

Separately, Zacks Investment Research cut shares of Cemtrex from a “hold” rating to a “sell” rating in a research note on Monday, March 4th.

The company has a current ratio of 1.20, a quick ratio of 0.77 and a debt-to-equity ratio of 0.23.

Cemtrex (NASDAQ:CETX) last announced its quarterly earnings results on Monday, May 20th. The industrial products company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.15. The firm had revenue of $23.61 million during the quarter, compared to the consensus estimate of $22.90 million. As a group, sell-side analysts predict that Cemtrex Inc will post -0.63 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Cemtrex stock. Municipal Employees Retirement System of Michigan bought a new stake in shares of Cemtrex Inc (NASDAQ:CETX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 132,290 shares of the industrial products company’s stock, valued at approximately $76,000. Municipal Employees Retirement System of Michigan owned 0.99% of Cemtrex as of its most recent filing with the Securities and Exchange Commission. 5.15% of the stock is owned by institutional investors.

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About Cemtrex (NASDAQ:CETX)

Cemtrex, Inc primarily provides electronic manufacturing services. The company operates through three segments: Advanced Technologies, Electronics Manufacturing, and Industrial Technology. The Advanced Technologies segment provides SmartDesk, an IoT product for the desktop PC market; and related white glove installation, extended warranties, and accessories directly to consumers, as well as through value added resellers for enterprises.

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