Arotech (ARTX) Stock Rating Lowered by Zacks Investment Research

Arotech (NASDAQ:ARTX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Friday, Zacks.com reports.

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. “

Shares of NASDAQ:ARTX traded down $0.03 during midday trading on Friday, reaching $2.30. The company’s stock had a trading volume of 127,553 shares, compared to its average volume of 115,138. The company has a market capitalization of $62.40 million, a price-to-earnings ratio of 14.38 and a beta of 1.38. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.81 and a quick ratio of 1.50. Arotech has a fifty-two week low of $1.90 and a fifty-two week high of $4.15.

Arotech (NASDAQ:ARTX) last announced its quarterly earnings data on Wednesday, May 8th. The aerospace company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). Arotech had a negative net margin of 0.15% and a positive return on equity of 2.60%. The business had revenue of $20.78 million during the quarter, compared to analyst estimates of $24.10 million. Analysts anticipate that Arotech will post 0.18 EPS for the current year.

In other news, Chairman Jon B. Kutler purchased 9,984 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average cost of $3.01 per share, with a total value of $30,051.84. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 19,984 shares of company stock worth $59,902. 8.50% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Oxford Asset Management LLP grew its position in Arotech by 104.1% in the 1st quarter. Oxford Asset Management LLP now owns 130,534 shares of the aerospace company’s stock worth $382,000 after purchasing an additional 66,575 shares during the period. Charles Schwab Investment Management Inc. bought a new stake in Arotech in the 1st quarter worth approximately $44,000. Renaissance Technologies LLC grew its position in Arotech by 79.9% in the 1st quarter. Renaissance Technologies LLC now owns 54,700 shares of the aerospace company’s stock worth $160,000 after purchasing an additional 24,300 shares during the period. Delek Group Ltd. bought a new stake in Arotech in the 1st quarter worth approximately $153,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in Arotech in the 1st quarter worth approximately $78,000. 30.79% of the stock is currently owned by institutional investors and hedge funds.

About Arotech

Arotech Corporation provides defense and security products worldwide. The company's Training and Simulation division develops, manufactures, and markets multimedia and interactive digital solutions for engineering, use-of-force training, and operator training of military, law enforcement, security, emergency services, and other personnel.

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