Q: Peter and His Wonder Team
CET traded 1.33 million shares and was up 8% which is an incredible move for this company. Do you have any idea what has happened. Also... please give me your opinion on this company going forward. Thanks again!
CET traded 1.33 million shares and was up 8% which is an incredible move for this company. Do you have any idea what has happened. Also... please give me your opinion on this company going forward. Thanks again!
5i Research Answer:
There has been no news from CET for nearly a month. It did make an acquisition in July and does have a stock buyback in place. There were a few small blocks traded Friday, but the biggest was 27,500 shares and nothing requires any disclosure (unless it was insiders and this disclosure would be revealed this week if that was the case). It is expected to report earnings next week. The stock has lagged this year, but is very cheap at 5X earnings. Debt is still too high at 2X cash flow, but EPS is expected to rise more than 60% in 2024. Its small size and sector add risks, but insiders own 24% and have been buyers in the last six months, and we would consider it 'interesting but not yet exciting' today.