24/7 Market News Snapshot 30 December, 2024 – CEMTREX INC. (NASDAQ:CETX)

December 30, 2024

DENVER, Colo., 30 December, 2024 (247marketnews.com) – (NASDAQ:CETX) are discussed in this article.
Cemtrex Inc. (CETX) has recently demonstrated significant market activity, opening at $3.00 and witnessing a notable surge of 12.74%, bringing its current trading price to $3.461. This upward movement reflects strong investor interest, supported by a trading volume of approximately 539.69K shares, indicating heightened confidence among traders. The stock continues to attract market attention, and technical indicators suggest potential for additional gains, although vigilance is advised as it encounters resistance levels above the current price, with support likely nearby.

In conjunction with these positive market trends, Cemtrex has announced impressive financial results for the fiscal year ending September 30, 2024. The company reported a 13% increase in revenue, totaling $66.9 million compared to $59.4 million from the prior year. The fourth quarter alone saw revenues rise to $18.1 million, marking a 9% improvement from $16.6 million in Q4 2023.

The Advanced Industrial Services (AIS) segment emerged as a key growth driver, achieving a remarkable 39% revenue increase to $34.8 million, primarily spurred by strategic acquisitions and increasing industry demand. Moreover, the launch of the NEXT™ Modular Camera System by Vicon Innovations is poised to redefine surveillance solutions, incorporating advanced AI analytics and edge processing capabilities, thereby enhancing security integrators’ installation and functionality offerings.

Saagar Govil, Chairman and CEO, noted the company’s strategic momentum, highlighted by a significant $10.4 million order for the Valerus surveillance system expansion. Despite facing some setbacks within the Vicon segment, which saw a 7% revenue decline due to project delays, Cemtrex remains optimistic about its future growth potential. Strong order pipelines and ongoing infrastructure projects position the company favorably for 2025, reinforcing its commitment to technological advancement and market leadership in security and industrial services.

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