Cemtrex (NASDAQ:CETX) Share Price Passes Below 50-Day Moving Average – Here’s Why

Cemtrex, Inc. (NASDAQ:CETX)’s stock price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.68 and traded as low as $1.82. Cemtrex shares last traded at $1.88, with a volume of 74,542 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Cemtrex from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th.

Cemtrex Stock Performance

The company has a market capitalization of $3.36 million, a price-to-earnings ratio of 0.00 and a beta of 1.75. The stock has a 50 day simple moving average of $2.68 and a 200 day simple moving average of $6.67. The company has a quick ratio of 1.06, a current ratio of 1.17 and a debt-to-equity ratio of 2.68.

Cemtrex (NASDAQ:CETX) last released its quarterly earnings data on Friday, February 14th. The industrial products company reported ($16.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $42.00 by ($58.15). Cemtrex had a negative net margin of 54.57% and a negative return on equity of 1,386.66%. The company had revenue of $13.74 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cemtrex stock. Ground Swell Capital LLC acquired a new position in Cemtrex, Inc. (NASDAQ:CETX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 13,807 shares of the industrial products company’s stock, valued at approximately $40,000. Ground Swell Capital LLC owned approximately 0.78% of Cemtrex at the end of the most recent reporting period. 1.97% of the stock is owned by institutional investors.

Cemtrex Company Profile

Cemtrex, Inc engages in the provision of solutions in the technology industry. It operates through the following segments: Security, Industrial Services, and Cemtrex Corporate. The Security segment provides end-to-end security solutions to meet corporate, industrial, and governmental security challenges.