Cemtrex Inc. (CETX) stock prices were up by 15.29% as of the market closing on October 13th, 2021. This brought the price per share up to USD$1.04 at the end of the trading day. Subsequent pre-market fluctuations have seen the stock rise by 26.57%, bringing it up to USD$1.31.
Continued Impact of Pandemic
CETX stock reported seeing improvements in demand throughout the second half of CY 2021. This was largely driven by the gradual return of the global economy to pre-pandemic levels as businesses start reopening. Accordingly, the company is investing in its sales and marketing staff across the board in order to facilitate business growth. Research and development is also seeing an increase in investment by the company in order to drive innovation. The company expects these investments to result in top-line growth over the upcoming two to three years. Furthermore, the company is continuing to evaluate acquisition opportunities for strategic growth, while advancing its product development and pipelines across all of its brands.
CETX Stock Expands Offerings
2021 saw CETX stock make significant progress in its product roadmap, consolidated by the release of a brand new NDAA compliant state of the art camera line, a new high-end sever line. The company also released other products, such as their 360-degree multisensory camera and thermal kiosk camera. Vicon hopes to launch its proprietary artificial intelligence-based analytics solutions in the upcoming year. The 2022 year will also see the facilitation of major improvements to the company’s core software platform, Valerus.
The first quarter of fiscal 2021 saw CETX stock announce its new generation SmartDesk, the SmartDesk Connect. The newest addition to the SmartDesk portfolio builds on the original patented SmartDesk. It provides many of the same features while also allowing users to use their own laptop instead of a built-in PC. Unfortunately, SmartDesk has experienced supply chain and delivery issues over the second and third quarters of fiscal 2021 because of the ongoing impact of the coronavirus pandemic. This has resulted in limited product deliveries of SmartDesk Connect. However, the company expects to resolve these issues by the fourth quarter of fiscal 2021.
Future Outlook for CETX Stock
CETX stock is poised to capitalize on the momentum it has generated over the course of the 2021 year so far. The company is keen to take steps to ensure the proliferation of its product portfolio in order to usher in unprecedented growth. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to facilitate consistent and organic increases in shareholder value over the long term.