New NASDAQ Tech Stock Profile (CETX) Could Be Monday's Breakout Runner, Here's Why
Low Float Of Approx. 3.18Mn Shares - $12 Analyst Target
I've found a new NASDAQ stock profile that you need to be aware of going into next week, because I think it's gaining steam and could be ready to run big-time.
In fact, due to a few potential catalysts, this stock displays staggering upside potential that it could unlock in the short-term.
Your new stock profile for Monday, February 24th is:
> Cemtrex, Inc. (CETX) <
Cemtrex, Inc. is the manufacturer of the SmartDesk, the world’s most advanced workstation. Cemtrex is a diversified technology company that is driving innovation in a wide range of sectors, including smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions, and intelligent security systems.
At this very moment, there are a handful of potential catalysts that could set this stock ablaze for a major run. Here they are...
#1 CETX Potential Catalyst - Friday's News Release
Released at 4:30PM EST on Friday, this news got the stock trading big-time after hours as we saw a high of $1.89 at the end of the day. Check it out:
Cemtrex Announces 500% Increase in New Orders for Development of VR and AR Applications in Quarter-to-Date
Brooklyn, NY, Feb. 21, 2020 (GLOBE NEWSWIRE) -- - Cemtrex (Nasdaq: CETX, CETXP, CETXW) announced today that it has received over $300,000 in new orders for the development of virtual reality (VR) and augmented reality (AR) applications, representing a 500% increase in the current quarter to date from the prior year. The orders were from 3 different customers and the Company expects to execute these orders over the next five months.
The Company expects to close an additional $300K in new orders for virtual and augmented reality application development in the current quarter with multiple new customers based on the current sales pipeline for a total of $600K in FY Q2. The expected $600K in orders represents a 1000% percent increase in orders for VR and AR app development services compared to the same period a year ago. The Company anticipates that demand for VR and AR app development services will continue to increase in the coming quarters and will be a key source of growth for the Company.
Cemtrex is a leading developer of VR and AR applications and has won awards in the industry from Clutch. The Company has unique experience as it has successfully developed many applications already in the space for leading brands like Richemont and its subsidiaries and thus is poised to capture more business in this fast-growing market.
Chairman and CEO of Cemtrex, Saagar Govil, commented, “We are excited to see the rapid pace of demand taking shape in the VR and AR markets. A year ago, there was a lot of discussion taking place conceptually, but now a year later we are seeing companies put budget towards these efforts to realize these cutting-edge technologies. As the market continues to thrive, we believe we are in the right position to capitalize on that growth.”
Augmented and Virtual Realities are among the fastest growing business areas, which are expected to reach over $500 billion by 2025. The industries that will generate VR and AR opportunities include: industrial design, medical diagnostics, entertainment, sports, training simulations, productivity tools, social experiences, manufacturing optimization, app development, tourism, & advertising. All industries whether retail, education, social media, healthcare or manufacturing, will experience widespread disruption and innovation in their products and services by utilizing VR & AR solutions to increase their profitability in the coming decade.
#2. CETX Potential Catalyst - 114% Sales Increase Reporting
Cemtrex (CETX) Reports Operating Profit & 114% Sales Increase for the First Quarter Ended December 31, 2019
EBITDA over $900K for First Quarter, EBITDA Margin 7.4% of Revenues
BROOKLYN, N.Y., Feb. 19, 2020 (GLOBE NEWSWIRE) -- Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a leading multi-industry technology company that is driving innovation in a wide range of consumer and commercial sectors, announced its financial results for the quarter ending December 31st, 2019 by reporting an operating income of $118K, EBITDA of $909K and an increase of 114% in sales.
First Quarter Highlights:
EBITDA Margin %: 7.4%
Operating Profit: $118K
Cash and Equivalents: $3.9Mn
Total Assets: $48,713,569
Total Stockholder’s Equity: $21.9Mn
First Quarter Results:
Sales: Total Revenue for the three months ended December 31, 2019 and 2018 was $12.2Mn and $5.7Mn, respectively, an increase of $6.5Mn, or 114%. Total revenue for the fiscal year increased, as compared to total revenue in the same period last year, due to increased sales in the Advanced Technology segment. Our Advanced Technologies segment revenues for the three months ended December 31, 2019, increased by $6.7Mn or 1,444% to $7.2Mn from $467K for the three months ended December 31, 2018. This increase represents mainly the Consolidation of Vicon Industries, Inc.
Read the full article here.
#3. CETX Potential Catalyst - $12 Analyst Price Target
According to the CNN Business website, there is at least one analyst out there pinning a $12.00 price target on CETX.
From its current trading levels after hours on Friday, February 21st, CETX is looking at potential upside of over 500% to that level.
Yes, you read that correctly.
#4. CETX Potential Catalyst - Bullish Chart & Technicals
Below, you'll find CETX's 1-year chart which appears to be gaining steam within the last 2 weeks.
Check it out: