ValuEngine Downgrades Schmitt Industries (NASDAQ:SMIT) to Strong Sell

ValuEngine lowered shares of Schmitt Industries (NASDAQ:SMIT) from a sell rating to a strong sell rating in a report published on Wednesday, ValuEngine reports.

SMIT stock traded up $0.03 during trading on Wednesday, reaching $3.23. The company’s stock had a trading volume of 100 shares, compared to its average volume of 41,082. Schmitt Industries has a 1 year low of $1.87 and a 1 year high of $3.35. The company has a quick ratio of 3.06, a current ratio of 7.09 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $13.25 million, a P/E ratio of 43.86 and a beta of 0.55. The company’s fifty day moving average is $2.29 and its 200-day moving average is $2.23.

Schmitt Industries (NASDAQ:SMIT) last issued its quarterly earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.03 earnings per share (EPS) for the quarter. Schmitt Industries had a positive return on equity of 3.20% and a negative net margin of 5.29%. The business had revenue of $3.78 million during the quarter.

About Schmitt Industries

Schmitt Industries, Inc, together with its subsidiaries, designs, manufactures, and sells test and measurement products worldwide. The company's Balancer segment offers computer-controlled vibration detection, balancing, and process control systems. Its products comprise Schmitt Dynamic Balance System, which consists of a vibration sensor, a computer control unit, and a balance head; SB-5500, an optional acoustic emission monitoring system (AEMS) control card to monitor the AE signals generated on the grinding machine; process control cards to provide enhanced control of the grinding process; SB-2000, a compact manual balancing system; and AE-1000, an AE control platform, which reduces air machine grinding time.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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