An interesting stock that came up in some of our conversations today is Cemtrex, Inc. (NASDAQ:CETX). At current price of $2.81, the shares have already added 0.99 points (54.4% higher) from its previous close of $1.82. Should you buy or avoid them? The stock sets an active trading volume day with a reported 6612941 contracts so far this session. CETX shares had a relatively better volume day versus average trading capacity of 1.33 million shares, but with a 2.79 million float and a 58.26% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CETX stock indicates that the average analyst price target is $12 per share. This means the stock has a potential increase of 327.05% from where the CETX share price has been trading recently.
During the recent trading session for Cemtrex, Inc. (NASDAQ:CETX), the company witnessed their stock rise $1.75 over a week and surge $1.67 from the price 20 days ago. When compared to their established 52-week high of $8.08, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 06/02/19. The recent low of $1.11 stood for a -65.22% since 07/01/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.33 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Cemtrex, Inc., the two-week RSI stands at 89.06. This figure suggests that CETX stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current CETX readings is similarly very revealing as it has a stochastic reading of 52.44% at this stage. This figure means that CETX share price today is being neutral.
Technical chart claims that Cemtrex, Inc. (CETX) would settle between $2.44/share to $3.06/share level. However, if the stock price goes below the $1.51 mark, then the market for Cemtrex, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $1.2 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.54. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Taglich Brothers lowered their recommendation on shares of CETX from Buy to Neutral in their opinion released on March 01.
Moving on, CETX stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 23.6. Cemtrex, Inc. current P/B ratio of 0.3 means it is trading at a discount against its industry’s 2.9.