The shares of Crown Electrokinetics Corp. ( CRKN ) fell to a 52-week low, trading at just $0.12, with a market cap of $8.33 million. According to InvestingPro analysis, the company’s RSI indicates oversold conditions. This significant decline reflects a staggering 1-year change, with the company’s stock value eroding by -99.36%. Despite the decline, analysts are projecting a substantial increase in revenue of more than 800% for the current year. The current price level marks a critical point for the company, as it faces market forces and internal challenges. InvestingPro Analysis suggests the stock is currently trading below its Fair Value, with 15+ additional key insights available to subscribers through detailed Pro Research Reports covering what really matters for informed investment decisions.
In other recent news, Crown Electrokinetics reported record revenue of $8 million in Q3 2024, a significant increase from the same quarter last year. Despite this impressive growth, largely driven by new contracts in the Fiber Optic and Water Solutions divisions, the company posted a net loss of $5.9 million for the quarter due to increased operating expenses. Going forward, Crown has provided revenue guidance of $9 million for Q4 and $22 million for the full year of 2024, and expects to achieve profitability by 2025.
In addition to these financial updates, Crown recently faced a potential delisting from Nasdaq for failing to comply with the exchange’s minimum offering price requirement. The company plans to request a hearing before the Nasdaq Hearings Panel to delay any delisting action and is actively seeking to regain compliance.
In terms of recent developments, Crown secured three major customer agreements in the Fiber Optic division and broke ground on a commissioned installation of two inclined wells in Cabo San Lucas, under the Water Solutions division. These developments, together with the company’s expected revenues of between $30 million and $35 million by 2025, underline Crown’s focus on growth and its commitment to driving societal change through its technological solutions.
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2025-01-08 14:31:00
