Cymat Technologies Secures $1.8M Military Order and Completes Equity Placement

Cymat Technologies ( (TSE:CYM) ) has issued an announcement.

Cymat Technologies Ltd. announced a $1.8 million order for its SmartMetal underbelly kits from an Asian military vehicle manufacturer, marking the third purchase order under the customer’s full-rate production schedule. This contract, expected to be worth $4M-$5M, aligns with global trends in defense spending, potentially enhancing sales opportunities for Cymat’s customer and increasing interest from other SmartMetal clients. Additionally, Cymat completed a non-brokered private placement of equity units, raising $1,551,500.

The most recent analyst rating on (TSE:CYM) stock is a Hold with a C$0.10 price target. To see the full list of analyst forecasts on Cymat Technologies stock, see the TSE:CYM Stock Forecast page.

Spark’s Take on TSE:CYM Stock

According to Spark, TipRanks’ AI Analyst, TSE:CYM is a Neutral.

Cymat Technologies’ overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues, negative profitability, and high leverage. Technical analysis indicates a bearish trend, further weighing down the score. Valuation metrics are unfavorable, with a negative P/E ratio and no dividend yield. These factors collectively contribute to a low overall stock score.

To see Spark’s full report on TSE:CYM stock, click here.

More about Cymat Technologies

Cymat Technologies Ltd. specializes in manufacturing and selling Stabilized Aluminum Foam (SAF), a lightweight, recyclable material with applications in architectural design, military, and automotive industries. The company markets its architectural SAF under the Alusion brand and its automotive and military SAF under the SmartMetal brand.

Average Trading Volume: 99,504

Technical Sentiment Signal: Sell

Current Market Cap: C$10.61M

For an in-depth examination of CYM stock, go to TipRanks’ Overview page.