Arotech (NASDAQ:ARTX) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Arotech (NASDAQ:ARTX) from a sell rating to a hold rating in a research note issued to investors on Friday, May 11th.

According to Zacks, “Arotech Corporation operates two business divisions: Electric Fuel Batteries — developing and manufacturing zinc-air batteries for military and homeland security applications and developing electric vehicle batteries for zero emission public transportation; and Arotech Defense — consisting of IES Interactive, which provides advanced high-tech multimedia training systems for law enforcement and paramilitary organizations, MDT Armor, which provides vehicle armoring for the military, industrial and private sectors, and Arcon Security. “

Separately, TheStreet raised Arotech from a c rating to a b- rating in a report on Monday, April 9th.

Shares of ARTX stock traded up $0.03 during trading hours on Friday, reaching $3.75. The company had a trading volume of 162,794 shares, compared to its average volume of 127,770. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.69 and a current ratio of 2.04. Arotech has a twelve month low of $2.70 and a twelve month high of $4.35. The firm has a market cap of $99.37 million, a P/E ratio of 23.13 and a beta of 1.42.

Arotech (NASDAQ:ARTX) last posted its earnings results on Thursday, May 10th. The aerospace company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $27.25 million during the quarter, compared to analyst estimates of $25.75 million. Arotech had a return on equity of 7.56% and a net margin of 5.02%. equities research analysts predict that Arotech will post 0.13 EPS for the current year.

In related news, Chairman Jon B. Kutler bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The shares were acquired at an average cost of $3.20 per share, for a total transaction of $64,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Spark Investment Management LLC grew its holdings in shares of Arotech by 155.0% in the 1st quarter. Spark Investment Management LLC now owns 38,500 shares of the aerospace company’s stock worth $117,000 after acquiring an additional 23,400 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of Arotech by 132.1% in the 4th quarter. Citadel Advisors LLC now owns 50,115 shares of the aerospace company’s stock worth $178,000 after acquiring an additional 28,526 shares during the last quarter. Cannell Capital LLC grew its holdings in shares of Arotech by 2.7% in the 1st quarter. Cannell Capital LLC now owns 1,817,418 shares of the aerospace company’s stock worth $5,543,000 after acquiring an additional 47,256 shares during the last quarter. Calton & Associates Inc. acquired a new position in shares of Arotech in the 4th quarter worth $181,000. Finally, Virtu Financial LLC acquired a new position in shares of Arotech in the 4th quarter worth $187,000. Institutional investors and hedge funds own 22.16% of the company’s stock.

Arotech Company Profile

Arotech Corporation provides defense and security products worldwide. The company's Training and Simulation division develops, manufactures, and markets multimedia and interactive digital solutions for engineering, use-of-force training, and operator training of military, law enforcement, security, emergency services, and other personnel.

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