CEA Industries (BNC)
NASDAQ:BNC
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CEA Industries
(NASDAQ:BNC)
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Rating:72Outperform
Price Target:
$2.50
▼(-61.66% Downside)
Action:Upgraded
Date:06/02/26
The score is primarily supported by the step-change in TTM financials (strong cash generation, strong reported profitability, and low leverage). This is tempered by concerns around earnings quality and sustainability due to negative core operating results and a historically inconsistent track record. Technically, signals are mixed, and valuation is supportive due to the very low P/E.
Positive Factors
Very Low Leverage
Extremely low leverage and a sizable asset base provide durable financial flexibility, allowing the company to withstand shocks, fund strategic initiatives, and meet covenants without stress. This structural strength supports long-term optionality for investments or liability management.
Negative Factors
Weak Core Operating Profitability
Negative operating margins indicate profitability is currently driven by non-operating items rather than core business operations. This structural weakness raises risk that current net income and returns are not repeatable absent sustained improvement in operating performance and underlying margins.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Extremely low leverage and a sizable asset base provide durable financial flexibility, allowing the company to withstand shocks, fund strategic initiatives, and meet covenants without stress. This structural strength supports long-term optionality for investments or liability management.
Read all positive factors
CEA Industries (BNC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$91.37M
Dividend YieldN/A
Average Volume (3M)705.38K
Price to Earnings (P/E)0.6
Beta (1Y)-0.28
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees29
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)-5.21
Shares Outstanding42,895,840
10 Day Avg. Volume658,556
30 Day Avg. Volume705,375
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)0.73
Price to Sales (P/S)2.01
P/FCF Ratio1.03
Enterprise Value/Market Cap-0.06
Enterprise Value/Revenue-0.04
Enterprise Value/Gross Profit-0.05
Enterprise Value/Ebitda0.13
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)$37.30M
CEA Industries Business Overview & Revenue Model
Company Description
CEA Industries Inc., a U.S.-based enterprise, specializes in furnishing advanced engineering, design, and technological innovations for the controlled environment agriculture (CEA) sector. Through its subsidiary, Surna Cultivation Technologies LLC...
How the Company Makes Money
null...
CEA Industries Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
86
Very Positive
Cash Flow
91
Very Positive
| Breakdown | Jan 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 132.08M | 2.80M | 6.91M | 11.28M | 13.64M |
| Gross Profit | 115.57M | -219.62K | 542.08K | 1.14M | 2.93M |
| EBITDA | -80.94M | -3.15M | -2.82M | -5.06M | -1.91M |
| Net Income | 170.17M | -3.15M | -2.91M | -5.50M | -1.34M |
Balance Sheet | |||||
| Total Assets | 436.77M | 10.36M | 13.77M | 21.03M | 5.28M |
| Cash, Cash Equivalents and Short-Term Investments | 11.32M | 9.45M | 12.51M | 18.64M | 2.16M |
| Total Debt | 3.76M | 269.80K | 386.35K | 495.09K | 586.37K |
| Total Liabilities | 71.89M | 1.16M | 1.51M | 6.13M | 4.89M |
| Stockholders Equity | 364.88M | 9.20M | 12.26M | 14.90M | 389.47K |
Cash Flow | |||||
| Free Cash Flow | 257.05M | -3.06M | -6.13M | -3.22M | -3.28M |
| Operating Cash Flow | 267.69M | -3.06M | -6.13M | -3.19M | -3.21M |
| Investing Cash Flow | -30.45M | 0.00 | 200.00 | -28.10K | -57.16K |
| Financing Cash Flow | 3.91M | 0.00 | 0.00 | 19.70M | 3.14M |
CEA Industries Technical Analysis
Negative
6.52
Price Trends
2.79
Negative
3.43
Negative
6.12
Negative
Market Momentum
-0.22
Positive
37.71
Neutral
9.38
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BNC, the sentiment is Negative. The current price of 6.52 is above the 20-day moving average (MA) of 2.58, above the 50-day MA of 2.79, and above the 200-day MA of 6.12, indicating a bearish trend. The MACD of -0.22 indicates Positive momentum. The RSI at 37.71 is Neutral, neither overbought nor oversold. The STOCH value of 9.38 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BNC.
CEA Industries Risk Analysis
CEA Industries disclosed 58 risk factors in its most recent earnings report. CEA Industries reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
CEA Industries Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $91.37M | 0.64 | 78.70% | ― | ― | ― | |
67 Neutral | $568.73M | 67.76 | 5.40% | ― | 6.74% | 250.16% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $561.38M | 61.60 | 2.33% | ― | 2.07% | -38.08% | |
62 Neutral | $306.02M | 31.66 | 14.45% | 1.11% | 19.86% | -49.73% | |
59 Neutral | $378.96M | -25.84 | -10.79% | ― | 13.88% | 34.22% | |
48 Neutral | $58.01M | -1.50 | 1577.14% | ― | -24.31% | -169.16% |
* Industrials Sector Average
BNC
CEA Industries
2.05
-6.25
-75.30%
ESOA
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16.70
6.17
58.55%
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14.51
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71.31%
BBCP
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SLND
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1.03
-2.74
-72.68%
CEA Industries Corporate Events
Business Operations and StrategyLegal Proceedings
CEA Industries Challenges Asset Management Agreement in Lawsuit
Negative
May 29, 2026
On May 22, 2026, CEA Industries Inc. filed a lawsuit in the U.S. District Court for the District of Delaware against 10X Capital LLC over an Asset Management Agreement signed on August 5, 2025. The company is seeking to have the agreement declared...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and Financing
CEA Industries Announces Leadership Changes and Governance Refresh
Neutral
May 6, 2026
On April 30, 2026, CEA Industries Inc. entered into a master loan agreement with BitGo Prime, enabling the company to borrow digital assets or cash on a secured, overcollateralized basis, subject to financial covenants including minimum net equity...
Delistings and Listing ChangesPrivate Placements and Financing
CEA Industries Wins Nasdaq Listing for Stapled Warrants
Positive
Apr 13, 2026
On April 13, 2026, CEA Industries announced that its stapled warrants to purchase common stock at an exercise price of $15.15 per share have been approved for listing on the Nasdaq Capital Market. Trading in the warrants, which will carry the tick...
Business Operations and StrategyExecutive/Board Changes
CEA Industries Adopts 2026 Inducement Equity Compensation Plan
Positive
Apr 9, 2026
On March 9, 2026, CEA Industries appointed Brent Miller as its new chief financial officer and, on April 6, 2026, the board approved a 2026 Inducement Plan authorizing up to 1,000,000 shares of common stock for equity awards to new employees. Unde...
Business Operations and Strategy
CEA Industries Pressures 10X to Reform Asset Agreement
Negative
Mar 26, 2026
On March 26, 2026, CEA Industries Inc. provided an update on its Board’s efforts to renegotiate its August 2025 Asset Management Agreement with 10X Capital Asset Management. The company said it proposed “market” amendments on Feb...
Business Operations and StrategyRegulatory Filings and Compliance
CEA Industries Board Rejects YZi Labs Consent Request
Neutral
Mar 24, 2026
On March 24, 2026, CEA Industries Inc. announced that its board completed a review of YZILabs Management Ltd.’s request to set a record date for a proposed stockholder consent solicitation and deemed the request deficient under the company&#...
Executive/Board Changes
CEA Industries Director Hans Thomas Resigns from Board
Neutral
Mar 23, 2026
On March 20, 2026, CEA Industries Inc. announced that director Hans Thomas resigned from its Board of Directors effective immediately, with the company stating his departure did not stem from any disagreement over operations, policies or practices...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
CEA Industries Faces Activist Challenge Over Board Control
Negative
Mar 16, 2026
On March 13, 2026, CEA Industries confirmed it had received a letter from YZILabs Management requesting that the board set a record date for a consent solicitation aimed at expanding the board from six to 13 directors and electing seven YZi Labs n...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.