Short Interest in Cemtrex, Inc. (NASDAQ:CETX) Increases By 6.1%

Posted by on Apr 23rd, 2023

Cemtrex, Inc. (NASDAQ:CETX – Get Rating) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 28,000 shares, a growth of 6.1% from the March 15th total of 26,400 shares. Based on an average trading volume of 118,000 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analyst Weigh In

CETX has been the topic of several recent research reports. StockNews.com started coverage on shares of Cemtrex in a research note on Thursday, March 16th. They set a “sell” rating on the stock. Dawson James increased their price objective on Cemtrex from $8.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, February 6th.

Hedge Funds Weigh In On Cemtrex

A hedge fund recently bought a new stake in Cemtrex stock. Renaissance Technologies LLC purchased a new position in Cemtrex, Inc. (NASDAQ:CETX – Get Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 144,688 shares of the industrial products company’s stock, valued at approximately $40,000. Renaissance Technologies LLC owned approximately 0.59% of Cemtrex as of its most recent filing with the Securities & Exchange Commission. 2.68% of the stock is owned by institutional investors.

Cemtrex Price Performance

Shares of NASDAQ:CETX opened at $9.50 on Friday. Cemtrex has a 52 week low of $3.15 and a 52 week high of $20.81. The business has a fifty day simple moving average of $8.72 and a 200-day simple moving average of $7.20. The company has a quick ratio of 0.66, a current ratio of 0.98 and a debt-to-equity ratio of 0.25. The company has a market cap of $7.89 million, a P/E ratio of -0.47 and a beta of 2.17.

Cemtrex (NASDAQ:CETX – Get Rating) last released its quarterly earnings data on Tuesday, February 14th. The industrial products company reported ($3.99) EPS for the quarter, missing the consensus estimate of ($1.71) by ($2.28). The company had revenue of $11.97 million during the quarter, compared to analysts’ expectations of $13.30 million. Cemtrex had a negative net margin of 28.74% and a negative return on equity of 77.83%. Equities research analysts forecast that Cemtrex will post -4.1 EPS for the current year.

About Cemtrex

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Cemtrex, Inc engages in the provision of solutions in the technology industry. It operates through the following segments: Advanced Technologies and Industrial Services. The Advanced Technologies segment delivers technologies for IoT, Wearables and Smart Devices, such as the SmartDesk. The Industrial Services segment offers single-source services for rigging, millwrighting, in plant maintenance, equipment erection, relocation, and disassembly to customers.

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