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Cemtrex Inc. (CETX) stock has hit a distressing milestone, tumbling to a 52-week low of $1.77. This latest price level reflects a staggering 1-year change, with the stock value plummeting by nearly 99.98%. With a market capitalization of just $3.16 million and a concerning debt-to-capital ratio of 0.89, InvestingPro data reveals the company’s precarious financial position. Investors are grappling with the company’s dramatic downturn, as the market reacts to a series of challenges that have beset the tech and industrial company over the past year. InvestingPro analysis indicates the stock is currently in oversold territory, though the company faces significant headwinds with negative EBITDA of -$4.98 million and rapidly diminishing cash reserves. The sharp decline has raised concerns about the company’s future prospects and its ability to recover from such a significant loss of value. Discover 13 additional crucial ProTips and comprehensive analysis in the Pro Research Report, available exclusively on InvestingPro.
In other recent news, Cemtrex Inc. has faced a potential delisting from Nasdaq due to non-compliance with the minimum stockholder’s equity requirement, having reported equity below the $2.5 million threshold as of December 31, 2024. The company has until April 7, 2025, to submit a compliance plan, which, if accepted, could grant them until August 20, 2025, to meet the requirement. Meanwhile, Cemtrex announced a $1.2 million order secured by its subsidiary, Vicon Industries, for a Texas border protection project, expected to be fulfilled in fiscal Q2 2025. Additionally, Cemtrex has appointed Paul J. Wyckoff as its new Chief Financial Officer, bringing over two decades of accounting experience to oversee the company’s financial operations.
Cemtrex has also successfully regained compliance with Nasdaq’s minimum stockholder equity requirement, reporting equity of $4,710,677 in its Form 10-K filed on December 30, 2024. This follows an extension granted until February 17, 2025, to address the shortfall. In another compliance achievement, Cemtrex met Nasdaq’s minimum bid price requirement after executing a 1-for-35 reverse stock split effective November 26, 2024. These developments ensure Cemtrex’s continued presence on the Nasdaq Capital Market, as confirmed by Nasdaq notifications.
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