Cemtrex (NASDAQ:CETX) Trading 10.3% Higher
Cemtrex Inc (NASDAQ:CETX) shares traded up 10.3% during mid-day trading on Wednesday . The company traded as high as $1.30 and last traded at $1.29, 924,700 shares were traded during trading. A decline of 70% from the average session volume of 3,070,877 shares. The stock had previously closed at $1.17.
The business’s 50 day moving average price is $1.41 and its 200-day moving average price is $1.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.21.
Several institutional investors and hedge funds have recently bought and sold shares of CETX. Renaissance Technologies LLC raised its stake in shares of Cemtrex by 13.6% during the fourth quarter. Renaissance Technologies LLC now owns 290,809 shares of the industrial products company’s stock valued at $378,000 after purchasing an additional 34,781 shares during the period. Wedbush Securities Inc. raised its stake in shares of Cemtrex by 106.7% during the fourth quarter. Wedbush Securities Inc. now owns 57,715 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 29,790 shares during the period. Jane Street Group LLC purchased a new stake in shares of Cemtrex during the second quarter valued at approximately $52,000. Finally, Morgan Stanley bought a new stake in shares of Cemtrex in the second quarter worth $25,000. Institutional investors own 7.02% of the company’s stock.
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.
Further Reading: Price to Earnings Ratio (PE) Basics
Receive News & Ratings for Cemtrex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cemtrex and related companies with MarketBeat.com's FREE daily email newsletter.