Cemtrex Inc (NASDAQ:CETX) traded up 5.4% during mid-day trading on Tuesday . The stock traded as high as $1.21 and last traded at $1.18, 445,322 shares changed hands during mid-day trading. An increase of 228% from the average session volume of 135,943 shares. The stock had previously closed at $1.12.
The company has a debt-to-equity ratio of 0.29, a current ratio of 1.28 and a quick ratio of 0.77. The firm has a fifty day moving average of $1.27 and a 200-day moving average of $1.58.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wedbush Securities Inc. bought a new stake in shares of Cemtrex in the 3rd quarter worth approximately $38,000. Jane Street Group LLC bought a new stake in shares of Cemtrex in the 2nd quarter worth approximately $52,000. Finally, Morgan Stanley bought a new stake in shares of Cemtrex in the 2nd quarter worth approximately $25,000. 8.80% of the stock is currently owned by institutional investors and hedge funds.
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: The limitations of an equal weight rating
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