- The stock price of Cemtrex Inc (NASDAQ: CETX) increased by over 130% pre-market. This is why it happened.
The stock price of Cemtrex Inc (NASDAQ: CETX) increased by over 130% pre-market as of 5:48 AM ET. Investors appear to be responding to an analyst report.
Alliance Global Partners analyst Brian Kinstlinger had lowered the price target of Cemtrex from $3.50 to $2.75. But Kinstlinger maintained a “Buy” rating on the shares.
Kinstlinger pointed out that demand for Cemtrex’s security systems were pressured for the quarter ended in December. And these trends also persisted in this past quarter. Kinstlinger is expecting a recovery for the company in the second quarter.
The $2.75 price target imputed a 83.33% upside to the previous close.
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