Cemtrex (NASDAQ:CETX) Sees Large Volume Increase

Cemtrex Inc (NASDAQ:CETX) shares saw strong trading volume on Wednesday . 842,300 shares traded hands during mid-day trading, an increase of 38% from the previous session’s volume of 609,800 shares.The stock last traded at $1.56 and had previously closed at $1.48.

The business has a 50-day moving average of $1.70 and a 200 day moving average of $1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.28 and a quick ratio of 0.77.

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 consensus estimate of ($0.32) by ($1.27). Cemtrex had a negative return on equity of 42.86% and a negative net margin of 17.09%. The firm had revenue of $22.45 million during the quarter, compared to the consensus estimate of $29.50 million.

An institutional investor recently bought a new position in Cemtrex stock. Morgan Stanley bought a new position in shares of Cemtrex Inc (NASDAQ:CETX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,799 shares of the industrial products company’s stock, valued at approximately $25,000. Morgan Stanley owned 0.31% of Cemtrex as of its most recent SEC filing. Institutional investors and hedge funds own 9.45% of the company’s stock.

About Cemtrex (NASDAQ:CETX)

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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