Cemtrex Inc (NASDAQ:CETX)’s share price shot up 5.8% during trading on Thursday . The stock traded as high as $1.30 and last traded at $1.27, 219,867 shares were traded during mid-day trading. A decline of 61% from the average session volume of 567,195 shares. The stock had previously closed at $1.20.
The company has a 50-day moving average price of $1.41 and a 200 day moving average price of $1.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.28 and a quick ratio of 0.77.
Several institutional investors have recently made changes to their positions in CETX. Morgan Stanley purchased a new position in shares of Cemtrex in the second quarter valued at about $25,000. Wedbush Securities Inc. bought a new stake in shares of Cemtrex in the third quarter worth about $38,000. Finally, Jane Street Group LLC bought a new stake in shares of Cemtrex in the second quarter worth about $52,000. Institutional investors and hedge funds 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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