Arotech Co. (ARTX) Sees Significant Decrease in Short Interest
Arotech Co. (NASDAQ:ARTX) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 776,104 shares, a decline of 25.5% from the November 15th total of 1,041,092 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average daily volume of 135,149 shares, the days-to-cover ratio is currently 5.7 days.
Hedge funds have recently modified their holdings of the company. Zacks Investment Management acquired a new position in shares of Arotech during the second quarter worth approximately $149,000. Goldman Sachs Group Inc. lifted its holdings in shares of Arotech by 73.5% during the first quarter. Goldman Sachs Group Inc. now owns 48,311 shares of the aerospace company’s stock worth $143,000 after buying an additional 20,461 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Arotech by 105.1% during the second quarter. GSA Capital Partners LLP now owns 166,100 shares of the aerospace company’s stock worth $590,000 after buying an additional 85,100 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Arotech by 1.9% during the second quarter. Vanguard Group Inc. now owns 1,038,240 shares of the aerospace company’s stock worth $3,686,000 after buying an additional 19,082 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Arotech by 32.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,082,745 shares of the aerospace company’s stock worth $3,194,000 after buying an additional 264,407 shares during the last quarter. Institutional investors own 20.89% of the company’s stock.
Arotech (ARTX) opened at $3.65 on Tuesday. Arotech has a 1-year low of $2.80 and a 1-year high of $5.00. The company has a market capitalization of $97.66, a P/E ratio of 41.11 and a beta of 1.30. The company has a current ratio of 2.17, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14.
Arotech (NASDAQ:ARTX) last issued its quarterly earnings results on Wednesday, November 8th. The aerospace company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). Arotech had a positive return on equity of 3.27% and a negative net margin of 2.87%. The business had revenue of $25.93 million for the quarter, compared to analyst estimates of $24.48 million. equities research analysts anticipate that Arotech will post 0.14 EPS for the current year.
A number of brokerages have recently commented on ARTX. Zacks Investment Research lowered Arotech from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. B. Riley reiterated a “buy” rating and set a $4.50 price target on shares of Arotech in a report on Friday, November 10th.
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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