CETX stock is soaring Tuesday; the impressive increase comes after Cemtrex, Inc. (NASDAQ:CETX) released its second-quarter financial results, which featured a rise in revenue and narrower Q2 loss. At the time of writing, Cemtrex stock is a leading Nasdaq gainer, in addition to a Yahoo Finance trending ticker.
Here’s everything we know about the Cemtrex earnings report.
CETX Goes Soaring on News of a Successful Q2
On Tuesday, global technology company Cemtrex posted its Q2 consolidated results. Highlights from the quarter include total revenue increasing 17%, net loss narrowing to $3.1 million—it was $4.1 million in the same quarter last year—and trading volume increasing to more than 10.6 million shares. It is worth noting, however, that the company said expenses increased during the quarter as well.
That said, the quarterly report continued to impress investors, but it wasn’t just the figures that did this; it was also the outlook the company took on the future. According to Cemtrex, which is based in New York, further improvement to profitability is expected over the next few quarters. And if it keeps doing what it’s doing now, this forecast seems likely to come true. “We have implemented a number of changes in our organization to focus on increasing cash flow from operations which have already started to materialize,” said CEO Saagar Govil.
Considering CETX stock has tumbled 44% Y-T-D, investors are likely looking at the stock today with optimistic eyes. According to Yahoo Finance, as of 12:54 PM EDT, CETX stock is trading at $2.84; this puts CETX stock up 86.84%.
What do you think about the Cemtrex earnings report? Do you see the company improving over the next few quarters? If it does, do you have any thoughts as to where CETX stock will spend most of its time on the market? Let us know your thoughts in the comments below.
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