Arotech (ARTX) Raised to “Hold” at Zacks Investment Research

Arotech (NASDAQ:ARTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

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, ValuEngine upgraded Arotech from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th.

Shares of ARTX traded down $0.01 during trading hours on Wednesday, reaching $2.79. The company’s stock had a trading volume of 237,777 shares, compared to its average volume of 126,960. The company has a market capitalization of $74.16 million, a price-to-earnings ratio of 17.44 and a beta of 1.96. Arotech has a 1-year low of $2.60 and a 1-year high of $4.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.08 and a quick ratio of 1.67.

Arotech (NASDAQ:ARTX) last issued its earnings results on Tuesday, November 6th. The aerospace company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $23.84 million for the quarter, compared to the consensus estimate of $23.50 million. Arotech had a return on equity of 7.89% and a net margin of 5.65%. During the same quarter in the prior year, the company earned $0.06 EPS. Equities research analysts expect that Arotech will post 0.11 earnings per share for the current fiscal year.

In other news, Director Kenneth W. Cappell purchased 10,000 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was acquired at an average price of $3.28 per share, with a total value of $32,800.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Jon B. Kutler purchased 20,000 shares of the stock in a transaction that occurred on Monday, September 10th. The stock was purchased at an average cost of $3.20 per share, with a total value of $64,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 35,289 shares of company stock worth $113,867 in the last quarter. 9.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA bought a new stake in shares of Arotech in the 2nd quarter valued at approximately $112,000. Alambic Investment Management L.P. bought a new stake in shares of Arotech in the 2nd quarter valued at approximately $126,000. Algert Global LLC grew its stake in shares of Arotech by 800.9% in the 2nd quarter. Algert Global LLC now owns 99,553 shares of the aerospace company’s stock valued at $373,000 after buying an additional 88,503 shares in the last quarter. B. Riley Financial Inc. bought a new stake in shares of Arotech in the 2nd quarter valued at approximately $400,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Arotech by 12.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,727,014 shares of the aerospace company’s stock valued at $6,476,000 after buying an additional 188,019 shares in the last quarter. 27.50% of the stock is owned by institutional investors and hedge funds.

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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