A Reversal for Arotech Corporation Is Not Near. The Stock Gaps Up

The stock of Arotech Corporation (NASDAQ:ARTX) gapped up by $0.02 today and has $8.37 target or 199.00% above today’s $2.80 share price. The 9 months technical chart setup indicates low risk for the $72.76M company. The gap was reported on Mar, 1 by Barchart.com. If the $8.37 price target is reached, the company will be worth $144.79 million more. Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 6.87% or $0.18 on February 29, hitting $2.8. About 387,588 shares traded hands or 267.33% up from the average. Arotech Corporation (NASDAQ:ARTX) has risen 15.42% since July 23, 2015 and is uptrending. It has outperformed by 22.75% the S&P500.

Analysts await Arotech Corporation (NASDAQ:ARTX) to reports earnings on March, 21. They expect $-0.01 earnings per share, down 200.00% or $0.02 from last year’s $0.01 per share. After $0.02 actual earnings per share reported by Arotech Corporation for the previous quarter, Wall Street now forecasts -150.00% negative EPS growth.

According to Zacks Investment Research, “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.”

The institutional sentiment is 0.92 in 2015 Q3. Its the same as in 2015Q2. The ratio is flat, as 9 funds sold all Arotech Corporation shares owned while 4 reduced positions. only 4 funds bought stakes while 8 increased positions. They now own 7.10 million shares or 183.82% more from 2.50 million shares in 2015Q2.

Ancora Advisors Llc holds 0.04% of its portfolio in Arotech Corporation for 244,000 shares. Bridgeway Capital Management Inc owns 381,263 shares or 0.01% of their US portfolio. Moreover, Vanguard Group Inc has 0.01% invested in the company for 5.29 million shares. The New York-based American International Group Inc has invested 0% in the stock. Aqr Capital Management Llc, a Connecticut-based fund reported 15,890 shares.

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