24/7 Market News Snapshot 16 December, 2024 – CEMTREX INC. (NASDAQ:CETX)

December 16, 2024

DENVER, Colo., 16 December, 2024 (247marketnews.com) – (NASDAQ:CETX) are discussed in this article.
Cemtrex Inc. (CETX) is experiencing significant momentum in the pre-market session, with shares trading at $3.813, marking an impressive rise of 12.64% from the previous close of $3.385. This surge is indicative of robust buying interest, further emphasized by a notable trading volume of 2.05 million shares. Such activity suggests strong investor confidence and a favorable outlook towards the company, warranting close monitoring of technical indicators, including moving averages and the relative strength index (RSI), to better assess the sustainability of this upward trend.

Adding to this positive momentum, Cemtrex’s subsidiary, Vicon Industries, has announced a record-breaking $10.4 million order, the largest in the company’s 57-year history. This substantial contract aims to enhance surveillance capabilities at a state government corrections facility through upgrades to the Valerus security system. The order incorporates significant hardware enhancements, including a revamped storage infrastructure, slated for fulfillment during the company’s second fiscal quarter of 2025.

While details of the client remain confidential due to non-disclosure agreements, the magnitude of this order underscores Vicon’s commitment to delivering cutting-edge surveillance technologies designed to meet contemporary security needs. Saagar Govil, Chairman and CEO of Cemtrex, emphasized the importance of this achievement: “This record order highlights our strategic focus on exceptional customer engagement and the accelerating demand for our advanced solutions.”

As the global market for video surveillance is poised to reach $88.71 billion by 2030, Cemtrex remains dedicated to addressing the increasing need for security solutions across various sectors. This significant order not only solidifies the company’s standing as a trusted provider in critical environments but also underscores the transformative potential of its innovative technologies.

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