Cemtrex (NASDAQ:CETX) Releases Quarterly Earnings Results, Beats Estimates By $308,700.11 EPS

Cemtrex (NASDAQ:CETX) released its quarterly earnings results on Friday. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($308,700.00) by $308,700.11, Zacks reports. The firm had revenue of $18.06 million during the quarter, compared to the consensus estimate of $8.29 million. Cemtrex had a negative net margin of 25.25% and a negative return on equity of 127.57%.

Cemtrex Stock Performance

CETX stock opened at $0.80 on Friday. The company has a current ratio of 2.38, a quick ratio of 1.96 and a debt-to-equity ratio of 0.28. The firm has a market cap of $8.06 million, a PE ratio of 0.01 and a beta of 2.08. The stock has a 50-day moving average price of $0.90 and a 200-day moving average price of $2.06. Cemtrex has a 1-year low of $0.51 and a 1-year high of $42.60.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC bought a new position in shares of Cemtrex during the 4th quarter valued at $70,000. Engineers Gate Manager LP bought a new stake in shares of Cemtrex in the 4th quarter valued at about $115,000. Finally, Jane Street Group LLC purchased a new stake in Cemtrex during the 4th quarter valued at about $186,000. 1.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Cemtrex from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

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.