Short Interest in Cemtrex Inc. (NASDAQ:CETX) Drops By 60.3%

Cemtrex Inc. (NASDAQ:CETX) saw a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 732,825 shares, a decrease of 60.3% from the December 31st total of 1,847,606 shares. Approximately 8.5% of the shares of the company are sold short. Based on an average daily volume of 7,039,838 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 7,039,838 shares, the days-to-cover ratio is currently 0.1 days. Approximately 8.5% of the shares of the company are sold short.

Cemtrex Price Performance

NASDAQ CETX traded down $0.09 during trading on Thursday, hitting $1.70. 377,980 shares of the company’s stock were exchanged, compared to its average volume of 4,308,774. The company has a market cap of $14.58 million, a PE ratio of -0.01 and a beta of 1.29. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average price is $2.73 and its two-hundred day moving average price is $8.48. Cemtrex has a fifty-two week low of $1.67 and a fifty-two week high of $42.60.

Cemtrex (NASDAQ:CETX) last announced its quarterly earnings results on Monday, December 29th. The industrial products company reported ($35.68) EPS for the quarter. The firm had revenue of $18.53 million during the quarter. Cemtrex had a negative net margin of 36.75% and a negative return on equity of 524.31%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cemtrex stock. Sabby Management LLC bought a new position in shares of Cemtrex Inc. (NASDAQ:CETX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 24,987 shares of the industrial products company’s stock, valued at approximately $141,000. Cemtrex comprises about 0.2% of Sabby Management LLC’s holdings, making the stock its 19th largest position. Sabby Management LLC owned 3.38% of Cemtrex at the end of the most recent reporting period. 1.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cemtrex in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

About Cemtrex

Cemtrex, Inc is an industrial technology company that develops and manufactures advanced electronics, automation systems and digital transformation solutions for a broad range of markets. Headquartered in New York, the company focuses on integrating hardware, software and connectivity to streamline industrial processes and enhance operational efficiency. Its core competencies include precision electronics assembly, automated manufacturing platforms and custom-engineered equipment for clients in transportation, energy and critical infrastructure sectors.

Through its Industrial Technologies segment, Cemtrex provides turn-key electronics manufacturing services, precision machining and robotic process automation.