Shares of Cemtrex (NASDAQ:CETX) stock are soaring on Wednesday despite there being no company news to speak of to start the day.
However, according to TipRanks, Alliance Global Partners analyst Brian Kinstlinger recently provided an update on his outlook for CETX stock. This includes a price target of $2.75 and maintaining his “Buy” rating on the shares.
Additionally, as a less known company, people likely don’t know much about Cemtrex. That said, here is what potential investors need to know:
- Cemtrex is a diversified technology company that provides techonology tools and equipment for large industries.
- The firm has five separate sections within the company as a whole.
- This includes its advanced technologies, virtual and augmented realities, software and security businesses.
- One of the firm’s flagship creations is the SmartDesk.
- That product is a large digital workstation with a multitude of included features.
- These range from three monitors, a document scanner, wireless charging for your other devices and even the ability to make it a sitting or standing desk.
CETX stock was up nearly 150% at one point on Wednesday, and is now 85% higher.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick Clarkson is a web editor at InvestorPlace.
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