Short Interest in Cemtrex, Inc. (NASDAQ:CETX) Drops By 35.0%

Cemtrex, Inc. (NASDAQ:CETX) saw a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 1,470,000 shares, a decrease of 35.0% from the May 31st total of 2,260,000 shares. Based on an average daily volume of 2,220,000 shares, the short-interest ratio is presently 0.7 days. Approximately 13.9% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Cemtrex in a research note on Saturday. They issued a “hold” rating for the company.

Cemtrex Trading Down 2.2 %

Shares of CETX opened at $0.22 on Monday. The stock has a 50 day simple moving average of $0.55 and a two-hundred day simple moving average of $2.79. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 4.18. Cemtrex has a 1 year low of $0.21 and a 1 year high of $8.90.

Cemtrex (NASDAQ:CETX) last issued its earnings results on Tuesday, May 14th. The industrial products company reported ($1.46) earnings per share (EPS) for the quarter. The firm had revenue of $17.16 million during the quarter. Cemtrex had a negative return on equity of 74.68% and a negative net margin of 7.64%. During the same period in the prior year, the company posted ($0.75) earnings per share.

Cemtrex Company Profile

Cemtrex, Inc operates as a technology company in the United States and internationally. It operates through Security, Industrial Services, and Cemtrex Corporate segments. The company offers browser-based video monitoring and analytics-based recognition systems, cameras, servers, and access control systems for security and surveillance in industrial and commercial facilities, federal prisons, hospitals, universities, schools, and federal and state government offices; and provides critical security and video surveillance solutions utilizing artificial intelligence based data algorithms.