ValuEngine downgraded shares of Arotech (NASDAQ:ARTX) from a hold rating to a sell rating in a research note released on Wednesday.
ARTX has been the topic of several other research reports. Zacks Investment Research cut Arotech from a hold rating to a sell rating in a report on Monday, August 20th. TheStreet cut Arotech from a b- rating to a c rating in a report on Tuesday, July 3rd.
ARTX stock opened at $3.35 on Wednesday. Arotech has a 52-week low of $2.70 and a 52-week high of $4.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.67 and a current ratio of 2.08. The firm has a market cap of $86.08 million, a PE ratio of 20.94 and a beta of 1.66.
In other news, Director Kenneth W. Cappell bought 10,000 shares of Arotech stock in a transaction that occurred on Thursday, September 13th. The shares were purchased at an average price of $3.28 per share, for a total transaction of $32,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jon B. Kutler bought 20,000 shares of Arotech stock in a transaction that occurred on Monday, September 10th. The stock was purchased at an average price of $3.20 per share, for a total transaction of $64,000.00. The disclosure for this purchase can be found here. Insiders have bought 35,289 shares of company stock worth $113,867 in the last 90 days. Insiders own 9.20% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. Spark Investment Management LLC lifted its stake in shares of Arotech by 155.0% during the first quarter. Spark Investment Management LLC now owns 38,500 shares of the aerospace company’s stock worth $117,000 after purchasing an additional 23,400 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new position in shares of Arotech during the second quarter worth about $112,000. Alambic Investment Management L.P. acquired a new position in shares of Arotech during the second quarter worth about $126,000. Cannell Capital LLC lifted its stake in shares of Arotech by 2.7% during the first quarter. Cannell Capital LLC now owns 1,817,418 shares of the aerospace company’s stock worth $5,543,000 after purchasing an additional 47,256 shares in the last quarter. Finally, Algert Global LLC lifted its stake in shares of Arotech by 800.9% during the second quarter. Algert Global LLC now owns 99,553 shares of the aerospace company’s stock worth $373,000 after purchasing an additional 88,503 shares in the last quarter. Institutional investors own 27.44% of the company’s stock.
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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