Cemtrex Inc. (NASDAQ:CETX) experienced a noteworthy decline in short interest, with the total number of shorted shares falling by 29.5% in January. As of January 30, 2024, the short interest stood at 516,410 shares, down from 732,825 shares on January 15, 2024. Currently, approximately 6.0% of the company’s stock is short sold, indicating a shift in investor sentiment.
The days-to-cover ratio, based on an average trading volume of 1,183,942 shares, is now at 0.4 days. This metric suggests that the short positions could be covered quickly if necessary. On January 26, 2024, shares of Cemtrex traded flat at $1.40, with a total of 415,464 shares exchanged during the session, compared to the average volume of 1,170,310 shares.
Cemtrex’s financial metrics reveal a debt-to-equity ratio of 0.53, a quick ratio of 0.94, and a current ratio of 1.22. The company’s stock has fluctuated significantly over the past year, with a 52-week low of $1.36 and a high of $42.60. Currently, Cemtrex holds a market capitalization of $12.04 million, a price-to-earnings (P/E) ratio of -0.01, and a beta of 1.38.
In its most recent earnings announcement on December 29, 2023, Cemtrex reported an earnings per share (EPS) of ($35.68) for the quarter. The company also noted a negative return on equity of 524.31% and a negative net margin of 36.75%. Revenue for the quarter was reported at $18.53 million.
Institutional investment activity shows some changes as well. Several hedge funds have recently modified their holdings in Cemtrex. Notably, Sabby Management LLC acquired a new position valued at approximately $141,000 in the third quarter. Daytona Street Capital LLC made a substantial investment in the fourth quarter, acquiring shares worth about $5,456,000. Additionally, Jane Street Group LLC purchased a new position valued at around $186,000. Institutional investors now own 1.97% of the company’s stock.
Cemtrex is headquartered in New York and specializes in developing and manufacturing advanced electronics, automation systems, and digital transformation solutions across various markets. The company’s focus lies in integrating hardware, software, and connectivity to enhance operational efficiency. Its core areas include precision electronics assembly, automated manufacturing platforms, and custom-engineered equipment, serving clients in sectors such as transportation, energy, and critical infrastructure.
As Cemtrex continues to navigate its market position, investors will be keenly observing upcoming developments and performance metrics that will shape the company’s future trajectory.
