Cemtrex (NASDAQ:CETX) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Cemtrex Inc. (NASDAQ:CETXGet Free Report) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $2.69 and traded as low as $2.23. Cemtrex shares last traded at $2.26, with a volume of 339,439 shares.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen upgraded Cemtrex from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Cemtrex in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Read Our Latest Stock Report on Cemtrex

Cemtrex Stock Down 10.2%

The company has a market capitalization of $2.25 million, a price-to-earnings ratio of -0.03 and a beta of 2.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.21 and a current ratio of 1.54. The business’s 50 day moving average is $2.68 and its 200 day moving average is $5.79.

Cemtrex (NASDAQ:CETXGet Free Report) last posted its quarterly earnings results on Friday, August 14th. The industrial products company reported ($3.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3,087,000.00) by $3,086,996.81. The business had revenue of $18.44 million during the quarter, compared to analysts’ expectations of $8.29 million. Cemtrex had a negative net margin of 38.59% and a negative return on equity of 129.15%.

Cemtrex Company Profile

(Get Free Report)

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.

Further Reading

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