Clarus Securities update on CVXClarus Securities. Reaffirms Attractive Target Price On Cematrix StockJune 10, 2021 On the heels of todays (June 10th) announcement of $8.1 million in cellular concrete contracts, Clarus Securities issued a quick research update with affirmation of its $1.25 target price on CEMATRIX (TSXV:CVX OTCQB:CTXXF) stock. As of this writing, the stock was trading just above $0.50, which represents a highly attractive return in context of the target price. The news noted that $1.5 MM represents new business and $6.6 million was converted from contracts in process. The cellular concrete company has a strong backlog andtotals $94.0 million. $21.3 million of the Corporations backlog is now Contracted and $72.7 million is Contracts in Process. The backlog is equivalent to 3.5 times 2020 revenues of $26.6 million. The Clarus update commented that, the Canadian market is seeing a rebound in bidding activity compared to pandemic levels. The US bid pipeline also continues strong with a potential uptick arising from planned infrastructure spending. Furthermore, with the shift of global focus toward green technology, and some investors shying away from investments purported to be engaged in detrimental environmental policy, Cematrix cellular concrete offers a more environmentally friendly alternative to products currently in use. When compared to EPS blocks, cellular concrete does not use hydrocarbons in its manufacture and when compared to expanded clay or gravel, the use of cellular concrete, which its mixed on site, can reduce the number of truckloads needed to access the site. Additionally, cellular concrete lasts longer, lengthening the useful life of the infrastructure projects further lessening its impacts. To stay informed on all Cematrix news, sign up to receive updates from The Howard Group. Share this entry