Saagar Govil Acquires 3,800 Shares of Cemtrex Inc. (CETX) Stock

Cemtrex Inc. (NASDAQ:CETX) CEO Saagar Govil purchased 3,800 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average cost of $2.81 per share, with a total value of $10,678.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,349,772 shares in the company, valued at approximately $3,792,859.32. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Cemtrex Inc. (CETX) traded up 2.13% during midday trading on Friday, reaching $2.88. 175,953 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $3.36 and a 200-day moving average of $3.67. Cemtrex Inc. has a 1-year low of $2.71 and a 1-year high of $8.41. The company has a market capitalization of $29.51 million, a PE ratio of 6.21 and a beta of -0.47.

Cemtrex (NASDAQ:CETX) last announced its quarterly earnings data on Monday, August 14th. The industrial products company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.01. Cemtrex had a return on equity of 19.22% and a net margin of 4.05%. The firm had revenue of $27.81 million during the quarter, compared to analyst estimates of $31.75 million. Equities analysts expect that Cemtrex Inc. will post $0.37 earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the company. Navellier & Associates Inc bought a new position in shares of Cemtrex during the first quarter worth about $320,000. Spark Investment Management LLC bought a new position in shares of Cemtrex during the first quarter worth about $117,000. Algert Global LLC bought a new position in shares of Cemtrex during the first quarter worth about $177,000. Dimensional Fund Advisors LP bought a new position in shares of Cemtrex during the second quarter worth about $122,000. Finally, AJO LP bought a new position in shares of Cemtrex during the second quarter worth about $268,000. Hedge funds and other institutional investors own 8.38% of the company’s stock.

Separately, ValuEngine downgraded shares of Cemtrex from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 6th.

About Cemtrex

Cemtrex, Inc is a diversified technology company, which provides solutions to industrial and manufacturing needs. The Company provides manufacturing services of electronic system assemblies; provides broad-based industrial services, instruments and emission monitors for industrial processes, and provides industrial air filtration and environmental control systems.