Cemtrex Inc (NASDAQ:CETX) was the target of a large drop in short interest in the month of November. As of November 29th, there was short interest totalling 70,100 shares, a drop of 12.9% from the November 14th total of 80,500 shares. Based on an average daily volume of 460,500 shares, the days-to-cover ratio is currently 0.2 days. Currently, 2.3% of the company’s shares are sold short.
Shares of NASDAQ:CETX traded down $0.01 during midday trading on Friday, reaching $1.26. The company had a trading volume of 129,074 shares, compared to its average volume of 87,730. 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 has a 1-year low of $1.11 and a 1-year high of $8.08. The company has a fifty day simple moving average of $1.40 and a two-hundred day simple moving average of $1.61.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wedbush Securities Inc. bought a new position in shares of Cemtrex in the 3rd quarter valued at approximately $38,000. Jane Street Group LLC bought a new position in shares of Cemtrex in the 2nd quarter valued at approximately $52,000. Finally, Morgan Stanley bought a new position in shares of Cemtrex in the 2nd quarter valued at approximately $25,000. Hedge funds and other institutional investors own 10.42% of the company’s stock.
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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