Cemtrex Stock Price, News & Analysis

Cemtrex Inc. has announced the launch of its new Vicon Thermal Sensor models, featuring advanced surveillance solutions designed for various facilities. The VTR-3000 and VTR-6000 series offer 360-degree monitoring capabilities, with ranges of 250 meters and 500 meters respectively, ideal for private airports and large construction sites. These sensors can replace up to 8 traditional cameras, improving cost-effectiveness and operational efficiency. Enhanced features include fire detection and better image clarity, addressing critical infrastructure needs.

Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW) has been invited to the LD 500 Virtual Investor Conference from September 1-4, 2020. Chairman and CEO Saagar Govil will present and hold one-on-one meetings. The company reported fiscal nine-month revenues of $32.7 million, up 16% year-over-year, and introduced new products under its Vicon security technology brand, including a thermal camera for COVID-19 symptom detection. The SmartDesk will also be launched as a new IoT product aimed at personal workspaces.

For details on the conference, visit: LD 500 Webcast.

Cemtrex Inc. (CETX, CETXP, CETXW) reported financial results for the quarter ending June 30, 2020, revealing a 16% year-over-year revenue increase, totaling $32.77 million for nine months. The third-quarter revenue decreased by 23% to $8.44 million due to COVID-19 impacts. Despite operating losses, the company achieved a gross margin of 43% and secured over $10 million in institutional funding, enhancing cash reserves. Management is optimistic about future growth as customer operations resume and new products, including AI camera technology, are launched.

Cemtrex Inc. (CETX) has secured a $1 million order for a sophisticated video surveillance security system, including Valerus software and hardware, for a large correctional facility in the UK. The order will be fulfilled within the current quarter. This development showcases Cemtrex's capabilities in the security technology segment, reinforcing its position in the Internet of Things and AI markets. The specifics of the client remain confidential due to privacy agreements.

Cemtrex Inc. (Nasdaq: CETX) has entered into definitive agreements with institutional investors to sell shares of its common stock at $2.24 per share, aiming to raise $5.4 million in gross proceeds before fees. Closing is anticipated around June 12, 2020. The company plans to utilize the funds for general corporate purposes, including the acceleration of technology development and strategic acquisitions in IoT, AR & VR, and AI & CV sectors. A.G.P./Alliance Global Partners serves as the placement agent for this offering.

Cemtrex announced the completion of a registered direct offering of 3,055,556 shares at $1.80 per share, raising $5.5 million in gross proceeds and approximately $5.1 million net. The funds will be utilized for general corporate purposes, including enhancing technology development and marketing in sectors such as IoT, AR & VR, and AI & CV. The company aims to capitalize on acquisition opportunities in the current economic climate.

Cemtrex Inc. (CETX) announced a registered direct offering of 3,055,556 shares at $1.80 per share, totaling gross proceeds of $5.5 million. The offering is expected to close on June 4, 2020, pending standard closing conditions. Funds will be used for general corporate purposes, including enhancing technology development and marketing in IoT, AR & VR, and AI & CV sectors, while also positioning for potential acquisitions. A.G.P./Alliance Global Partners is the sole placement agent for this offering.

Cemtrex Inc. (CETX) announced the launch of the V1100B-THM-TEMP Thermal Body Temperature Measurement Camera, aimed at assisting organizations in safely reopening during the COVID-19 pandemic. This camera features an accuracy of ±0.54°F and can screen multiple people simultaneously, detecting high temperatures and mask usage. With a rapid response time of 30 milliseconds, it can capture up to 16 targets at once. The launch responds to the heightened demand for safety measures across various sectors, including healthcare and education.

Cemtrex Inc. (CETX) announced that the U.S. Patent and Trademark Office has granted its first patent for the SmartDesk, a revolutionary IoT product designed to enhance productivity in modern workspaces. Developed over 18 months, this patent marks a significant milestone for the company as it plans to file additional patents soon. The SmartDesk features a 72-inch multi-touch display, wireless cloud access, and charging capabilities, making it ideal for remote work. CEO Saagar Govil expressed optimism about the product's unique position in the market and upcoming models.