Schmitt Industries (SMIT) Upgraded to “C-” by TheStreet

TheStreet upgraded shares of Schmitt Industries (NASDAQ:SMIT) from a d+ rating to a c- rating in a research report released on Monday morning.

Separately, ValuEngine raised Schmitt Industries from a hold rating to a buy rating in a research report on Thursday, September 7th.

Shares of Schmitt Industries (NASDAQ SMIT) opened at $2.48 on Monday. Schmitt Industries has a 12-month low of $1.48 and a 12-month high of $2.69.

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

A hedge fund recently raised its stake in Schmitt Industries stock. GRT Capital Partners L.L.C. raised its position in shares of Schmitt Industries, Inc. (NASDAQ:SMIT) by 48.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,825 shares of the scientific and technical instruments company’s stock after acquiring an additional 37,000 shares during the quarter. GRT Capital Partners L.L.C. owned approximately 3.77% of Schmitt Industries worth $194,000 at the end of the most recent quarter. 21.99% of the stock is owned by institutional investors and hedge funds.

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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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