Arotech Corporation (ARTX) Downgraded by Zacks Investment Research
According to Zacks, “Arotech Corporation operates two business divisions: Electric Fuel Batteries — developing and manufacturing zinc-air batteries for military and homeland security applications and developing electric vehicle batteries for zero emission public transportation; and Arotech Defense — consisting of IES Interactive, which provides advanced high-tech multimedia training systems for law enforcement and paramilitary organizations, MDT Armor, which provides vehicle armoring for the military, industrial and private sectors, and Arcon Security. “
Separately, B. Riley restated a buy rating and issued a $4.50 target price on shares of Arotech Corporation in a research note on Sunday, November 13th.
Shares of Arotech Corporation (NASDAQ:ARTX) traded up 0.595% during trading on Tuesday, hitting $4.225. The stock had a trading volume of 128,960 shares. The company’s market capitalization is $110.76 million. The firm has a 50-day moving average price of $3.76 and a 200 day moving average price of $3.10. Arotech Corporation has a 52 week low of $1.92 and a 52 week high of $4.85.
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In other Arotech Corporation news, Director Kenneth W. Cappell bought 9,000 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were acquired at an average cost of $3.23 per share, for a total transaction of $29,070.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 17.30% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Cannell Capital LLC boosted its position in Arotech Corporation by 198.9% in the third quarter. Cannell Capital LLC now owns 997,563 shares of the company’s stock worth $2,943,000 after buying an additional 663,828 shares during the last quarter. Vanguard Group Inc. boosted its position in Arotech Corporation by 24.0% in the second quarter. Vanguard Group Inc. now owns 942,064 shares of the company’s stock worth $2,647,000 after buying an additional 182,544 shares during the last quarter. Spark Investment Management LLC boosted its position in Arotech Corporation by 510.8% in the second quarter. Spark Investment Management LLC now owns 158,800 shares of the company’s stock worth $446,000 after buying an additional 132,800 shares during the last quarter. TFS Capital LLC purchased a new position in Arotech Corporation during the second quarter worth about $138,000. Finally, Dimensional Fund Advisors LP boosted its position in Arotech Corporation by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 472,215 shares of the company’s stock worth $1,327,000 after buying an additional 11,609 shares during the last quarter. Hedge funds and other institutional investors own 16.42% of the company’s stock.
About Arotech Corporation
Arotech Corporation is a defense and security products and services company, engaged in providing interactive simulation for military, law enforcement and commercial markets, and batteries and charging systems for the military, commercial and medical markets. The Company operates through two segments: Training and Simulation Division, and Power Systems Division.
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