When Cemtrex, Inc. (OTC:CTEI) disclosed improving financials three weeks ago, investors did not appear to take much notice of it. Now that CTEI stock has just been alerted, will it succeed in piquing their interest?
CTEI was last traded exactly one week ago, i.e on Mar. 5 when it barely shifted a volume of 1,000 shares without gaining a single cent in value. Thus, CTEI closed at what it had gained on Friday, Mar. 2, i.e $0.26 per share when a total of 13,200 shares of common stock changed hands, marking a three-fold improvement over the daily average trading volume.
Incorporated in 1998 as Diversified American Holding, Inc., Cemtrex, Inc. is specialized in designing, manufacturing and marketing emission monitoring equipment and instruments for the industry. The company has developed a novel energy efficient solution known as Green DCV designed for use in high-quality green commercial buildings. CTEI’s customer network includes refineries, power plants, and cement plants to name but a few.
On Feb. 2, CTEI submitted a full-on 10-Q report covering the quarter ended Dec. 31, 2011. In a nutshell, CTEI reported net sales of $2.02 million, up 11% on an annual basis, as well as a net profit of approx. $190 thousand, or 31% higher than the net result accumulated in Q4 2010. What is more, with a current ratio of 1.26, CTEI seems stable enough to cover its short-term debt.
