Cemtrex Inc. (NASDAQ:CETX) Sees Large Decline in Short Interest

Cemtrex Inc. (NASDAQ:CETX) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 115,857 shares, a drop of 86.2% from the May 31st total of 841,482 shares. Based on an average daily volume of 172,802 shares, the short-interest ratio is currently 0.7 days. Approximately 10.4% of the company’s stock are sold short.

Institutional Investors Weigh In On Cemtrex

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC acquired a new stake in shares of Cemtrex in the 4th quarter worth $70,000. Engineers Gate Manager LP acquired a new stake in shares of Cemtrex in the fourth quarter worth $115,000. Jane Street Group LLC acquired a new position in Cemtrex in the fourth quarter valued at approximately $186,000. Daytona Street Capital LLC purchased a new stake in Cemtrex during the fourth quarter worth $5,456,000. Finally, Sabby Management LLC acquired a new stake in shares of Cemtrex during the 3rd quarter valued at about $141,000. Hedge funds and other institutional investors own 1.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CETX. Wall Street Zen upgraded shares of Cemtrex from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Weiss Ratings raised shares of Cemtrex from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Cemtrex Trading Down 6.8%

Shares of NASDAQ:CETX traded down $0.22 during trading on Friday, reaching $3.02. 82,166 shares of the company were exchanged, compared to its average volume of 117,720. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 1.29. The business’s fifty day simple moving average is $7.77 and its 200-day simple moving average is $13.87. The firm has a market capitalization of $3.35 million, a PE ratio of -0.01 and a beta of 2.04. Cemtrex has a 12-month low of $3.02 and a 12-month high of $220.50.

Cemtrex (NASDAQ:CETX) last posted its quarterly earnings results on Friday, May 15th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3,087,000.00) by $3,087,001.10. The business had revenue of $18.06 million for the quarter, compared to the consensus estimate of $8.29 million. Cemtrex had a negative return on equity of 142.99% and a negative net margin of 39.63%.

Cemtrex Company Profile

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.