ValuEngine upgraded shares of Schmitt Industries (NASDAQ:SMIT) from a hold rating to a buy rating in a report released on Thursday morning.

Schmitt Industries (NASDAQ SMIT) traded down $0.20 during trading on Thursday, hitting $2.25. The stock had a trading volume of 169,709 shares, compared to its average volume of 42,215. Schmitt Industries has a 52 week low of $1.48 and a 52 week high of $2.69.

Schmitt Industries (NASDAQ:SMIT) last released its quarterly earnings data on Friday, October 6th. The scientific and technical instruments company reported ($0.04) EPS for the quarter. The firm had revenue of $3.08 million during the quarter. Schmitt Industries had a negative return on equity of 15.15% and a negative net margin of 8.59%.

A hedge fund recently raised its stake in Schmitt Industries stock. GRT Capital Partners L.L.C. increased its stake in Schmitt Industries, Inc. (NASDAQ:SMIT) by 48.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 112,825 shares of the scientific and technical instruments company’s stock after buying an additional 37,000 shares during the quarter. GRT Capital Partners L.L.C. owned about 3.77% of Schmitt Industries worth $194,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 21.99% of the company’s stock.

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About Schmitt Industries

Schmitt Industries, Inc designs, manufactures and sells test and measurement products for two main business segments: the Balancer segment and the Measurement segment. The Company operates through two segments: the design and assembly of dynamic balancing systems and components for the machine tool industry (Balancer), and the design and assembly of laser-based test and measurement systems (Measurement).

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