Short Interest in Cemtrex Inc. (NASDAQ:CETX) Expands By 289.4%

Cemtrex Inc. (NASDAQ:CETX) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 334,306 shares, an increase of 289.4% from the June 30th total of 85,858 shares. Based on an average daily trading volume, of 2,685,722 shares, the short-interest ratio is presently 0.1 days. Approximately 30.1% of the shares of the stock are short sold.

Cemtrex Price Performance

Cemtrex stock traded up $0.17 during trading hours on Monday, hitting $2.87. 37,757 shares of the stock were exchanged, compared to its average volume of 450,111. The stock has a market capitalization of $3.19 million, a P/E ratio of -0.01 and a beta of 2.11. The business’s 50-day moving average is $4.80 and its two-hundred day moving average is $10.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.29 and a current ratio of 1.57. Cemtrex has a 12 month low of $2.38 and a 12 month high of $220.50.

Cemtrex (NASDAQ:CETX) last posted its earnings results on Friday, May 15th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3,087,000.00) by $3,087,000.11. The company had revenue of $18.06 million during the quarter, compared to analysts’ expectations of $8.29 million. Cemtrex had a negative net margin of 39.63% and a negative return on equity of 142.99%.

Institutional Investors Weigh In On Cemtrex

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC bought a new stake in shares of Cemtrex during the fourth quarter worth $70,000. Engineers Gate Manager LP bought a new position in Cemtrex in the fourth quarter valued at about $115,000. Jane Street Group LLC bought a new position in Cemtrex in the fourth quarter valued at about $186,000. Finally, Daytona Street Capital LLC bought a new position in Cemtrex in the fourth quarter valued at about $5,456,000. 1.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CETX has been the topic of several recent analyst reports. Weiss Ratings raised Cemtrex from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 15th. Wall Street Zen upgraded Cemtrex from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Cemtrex has a consensus 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.