Arotech (NASDAQ:ARTX) Upgraded by Zacks Investment Research to “Hold”
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. “
ARTX has been the subject of a number of other reports. TheStreet downgraded Wayside Technology Group from a b- rating to a c rating in a report on Wednesday, May 22nd. ValuEngine upgraded Ultrapar Participacoes from a strong sell rating to a sell rating in a report on Tuesday, June 4th.
Arotech (NASDAQ:ARTX) last released its quarterly earnings data on Wednesday, May 8th. The aerospace company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The firm had revenue of $20.78 million for the quarter, compared to analyst estimates of $24.10 million. Arotech had a positive return on equity of 2.60% and a negative net margin of 0.15%. As a group, equities analysts forecast that Arotech will post 0.12 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp increased its holdings in Arotech by 49.4% in the 4th quarter. Van ECK Associates Corp now owns 13,153 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 4,352 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Arotech by 31.7% in the 4th quarter. Acadian Asset Management LLC now owns 36,228 shares of the aerospace company’s stock valued at $95,000 after purchasing an additional 8,729 shares in the last quarter. Virtu Financial LLC acquired a new stake in Arotech in the 1st quarter valued at $63,000. O Shaughnessy Asset Management LLC acquired a new stake in Arotech in the 1st quarter valued at $78,000. Finally, Buckingham Asset Management LLC acquired a new stake in Arotech in the 1st quarter valued at $102,000. Hedge funds and other institutional investors own 32.81% of the company’s stock.
Arotech Company Profile
Arotech Corporation provides defense and security products worldwide. The company's Training and Simulation division develops, manufactures, and markets multimedia and interactive digital solutions for engineering, use-of-force training, and operator training of military, law enforcement, security, emergency services, and other personnel.
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