Arotech Corporation (NASDAQ:ARTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
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. “
A number of other brokerages have also recently commented on ARTX. B. Riley reaffirmed a “buy” rating and issued a $4.50 target price on shares of Arotech Corporation in a report on Monday, May 15th. Singular Research started coverage on Arotech Corporation in a report on Friday, March 3rd. They set a “buy” rating and a $5.00 price target on the stock. Finally, ValuEngine raised Arotech Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 17th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $4.42.
Shares of Arotech Corporation (NASDAQ:ARTX) remained flat at $3.50 during trading on Friday. 225,077 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $3.31 and a 200-day moving average price of $3.61. Arotech Corporation has a 1-year low of $2.25 and a 1-year high of $5.00. The stock’s market capitalization is $91.59 million.
Arotech Corporation (NASDAQ:ARTX) last announced its earnings results on Monday, May 8th. The aerospace company reported $0.01 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.01. Arotech Corporation had a positive return on equity of 1.59% and a negative net margin of 3.31%. The company had revenue of $22.35 million for the quarter, compared to analysts’ expectations of $22.56 million. On average, equities research analysts predict that Arotech Corporation will post $0.09 EPS for the current year.
A number of large investors have recently bought and sold shares of ARTX. Cannell Capital LLC raised its position in shares of Arotech Corporation by 18.2% in the first quarter. Cannell Capital LLC now owns 1,179,465 shares of the aerospace company’s stock worth $3,479,000 after buying an additional 181,902 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Arotech Corporation by 32.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,082,745 shares of the aerospace company’s stock worth $3,194,000 after buying an additional 264,407 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Arotech Corporation by 150.9% in the fourth quarter. Renaissance Technologies LLC now owns 733,900 shares of the aerospace company’s stock worth $2,569,000 after buying an additional 441,400 shares during the last quarter. Essex Investment Management Co. LLC raised its position in shares of Arotech Corporation by 32.5% in the first quarter. Essex Investment Management Co. LLC now owns 321,012 shares of the aerospace company’s stock worth $947,000 after buying an additional 78,708 shares during the last quarter. Finally, Ancora Advisors LLC raised its position in shares of Arotech Corporation by 10.2% in the fourth quarter. Ancora Advisors LLC now owns 290,500 shares of the aerospace company’s stock worth $1,016,000 after buying an additional 27,000 shares during the last quarter. 21.82% of the stock is currently owned by institutional investors and hedge funds.
Arotech Corporation Company Profile
Arotech Corporation is a defense and security products and services company, engaged in providing interactive simulation for military, law enforcement and commercial markets, and batteries and charging systems for the military, commercial and medical markets. The Company operates through two segments: Training and Simulation Division, and Power Systems Division.
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