Cemtrex (NASDAQ:CETX) Stock Crosses Above Fifty Day Moving Average – Time to Sell?

Shares of Cemtrex Inc. (NASDAQ:CETX) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.93 and traded as high as $0.96. Cemtrex shares last traded at $0.9310, with a volume of 217,861 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Cemtrex from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Cemtrex Stock Performance

The firm has a market capitalization of $6.56 million, a PE ratio of -0.02 and a beta of 2.04. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.29 and a current ratio of 1.57. The company’s fifty day moving average price is $0.93 and its two-hundred day moving average price is $1.69.

Cemtrex shares are going to reverse split before the market opens on Friday, June 5th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, June 4th.

Cemtrex (NASDAQ:CETX) last posted its quarterly earnings results on Friday, May 15th. The industrial products company reported $0.11 EPS for the quarter, beating the consensus estimate of ($308,700.00) by $308,700.11. Cemtrex had a negative net margin of 39.63% and a negative return on equity of 142.99%. The firm had revenue of $18.06 million for the quarter, compared to analyst estimates of $8.29 million.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Millennium Management LLC purchased a new position in Cemtrex in the fourth quarter valued at approximately $70,000. Engineers Gate Manager LP purchased a new position in Cemtrex in the fourth quarter valued at approximately $115,000. Jane Street Group LLC purchased a new position in Cemtrex in the fourth quarter valued at approximately $186,000. Daytona Street Capital LLC purchased a new position in Cemtrex in the fourth quarter valued at approximately $5,456,000. Finally, Sabby Management LLC purchased a new position in Cemtrex in the third quarter valued at approximately $141,000. Hedge funds and other institutional investors own 1.97% of the company’s stock.

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.