Cemtrex (NASDAQ:CETX) Trading 10.3% Higher

Cemtrex Inc (NASDAQ:CETX)’s share price traded up 10.3% during mid-day trading on Wednesday . The stock traded as high as $1.30 and last traded at $1.29, 924,700 shares were traded during trading. A decline of 70% from the average session volume of 3,070,877 shares. The stock had previously closed at $1.17.

The company’s 50 day simple moving average is $1.41 and its 200-day simple moving average is $1.45. The company has a current ratio of 1.21, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23.

Institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley acquired a new stake in shares of Cemtrex during the 2nd quarter worth about $25,000. Jane Street Group LLC acquired a new stake in shares of Cemtrex during the 2nd quarter worth about $52,000. Wedbush Securities Inc. acquired a new stake in shares of Cemtrex during the 3rd quarter worth about $38,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Cemtrex by 13.6% during the 4th quarter. Renaissance Technologies LLC now owns 290,809 shares of the industrial products company’s stock worth $378,000 after purchasing an additional 34,781 shares during the last quarter. 7.02% of the stock is currently owned by institutional investors.

Cemtrex Company Profile (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.

Further Reading: Diversification in Investing

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