Cemtrex (NASDAQ:CETX) Posts Quarterly Earnings Results, Beats Estimates By $309,699.00 EPS

Cemtrex (NASDAQ:CETX) announced its earnings results on Friday. The industrial products company reported $999.00 EPS for the quarter, topping the consensus estimate of ($308,700.00) by $309,699.00, reports. Cemtrex had a negative net margin of 25.25% and a negative return on equity of 127.57%.

Cemtrex Stock Performance

Shares of CETX traded down $0.01 during mid-day trading on Friday, hitting $0.80. 353,953 shares of the company’s stock were exchanged, compared to its average volume of 467,256. Cemtrex has a 52 week low of $0.51 and a 52 week high of $42.60. The stock’s 50-day simple moving average is $0.90 and its 200-day simple moving average is $2.06. The company has a quick ratio of 1.96, a current ratio of 2.38 and a debt-to-equity ratio of 0.28.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CETX. Millennium Management LLC acquired a new stake in shares of Cemtrex during the 4th quarter worth approximately $70,000. Engineers Gate Manager LP acquired a new stake in shares of Cemtrex during the 4th quarter worth approximately $115,000. Finally, Jane Street Group LLC acquired a new stake in shares of Cemtrex during the 4th quarter worth approximately $186,000. 1.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Cemtrex from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company 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.