Cemtrex Inc (NASDAQ:CETX)’s share price shot up 27.3% during mid-day trading on Wednesday . The stock traded as high as $0.28 and last traded at $0.28. 855,542 shares changed hands during trading, an increase of 223% from the average session volume of 264,638 shares. The stock had previously closed at $0.22.

Separately, Zacks Investment Research upgraded shares of Cemtrex from a “sell” rating to a “hold” rating in a research note on Monday, April 1st.

The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.68 and a current ratio of 1.20.

Cemtrex (NASDAQ:CETX) last issued its quarterly earnings data on Monday, May 20th. The industrial products company reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.15. The business had revenue of $23.61 million during the quarter, compared to the consensus estimate of $22.90 million. Analysts anticipate that Cemtrex Inc will post -0.63 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Cemtrex stock. Renaissance Technologies LLC lifted its holdings in Cemtrex Inc (NASDAQ:CETX) by 21.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 353,839 shares of the industrial products company’s stock after purchasing an additional 63,050 shares during the period. Renaissance Technologies LLC owned about 2.44% of Cemtrex worth $177,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 3.83% of the company’s stock.

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Cemtrex Company Profile (NASDAQ:CETX)

Cemtrex, Inc primarily provides electronic manufacturing services. The company operates through three segments: Advanced Technologies, Electronics Manufacturing, and Industrial Technology. The Advanced Technologies segment provides SmartDesk, an IoT product for the desktop PC market; and related white glove installation, extended warranties, and accessories directly to consumers, as well as through value added resellers for enterprises.

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