Cemtrex Inc (NASDAQ:CETX) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 62,500 shares, a decline of 45.5% from the August 30th total of 114,700 shares. Approximately 2.6% of the shares of the company are short sold. Based on an average trading volume of 1,030,000 shares, the days-to-cover ratio is currently 0.1 days.
A hedge fund recently bought a new stake in Cemtrex stock. Morgan Stanley purchased a new stake in Cemtrex Inc (NASDAQ:CETX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,799 shares of the industrial products company’s stock, valued at approximately $25,000. Morgan Stanley owned 0.31% of Cemtrex at the end of the most recent quarter. 9.45% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:CETX traded up $0.01 during trading hours on Friday, reaching $1.31. The company had a trading volume of 26,881 shares, compared to its average volume of 115,067. Cemtrex has a 1-year low of $1.20 and a 1-year high of $11.20. The business’s 50 day moving average price is $1.50 and its 200-day moving average price is $1.29. The company has a current ratio of 1.28, a quick ratio of 0.77 and a debt-to-equity ratio of 0.29.
Cemtrex (NASDAQ:CETX) last announced its quarterly earnings results on Tuesday, August 20th. The industrial products company reported ($1.59) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($1.27). Cemtrex had a negative net margin of 17.09% and a negative return on equity of 42.86%. The company had revenue of $22.45 million during the quarter, compared to analyst estimates of $29.50 million.
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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