Alpine 4 Technologies Ltd (ALPP) stock has reached a new 52-week low, touching down at $0.31. This latest price level reflects a significant downturn for the company, which has seen its stock value decrease by -78.42% over the past year. Investors are closely monitoring the company's performance, as this new low point marks a critical juncture for Alpine 4 Technologies, with market watchers considering the implications for both the short-term recovery prospects and the long-term financial health of the company.
In other recent news, Alpine 4 Holdings, Inc. is facing potential delisting from the Nasdaq Stock Market due to delays in filing financial reports. The company received a notification from Nasdaq, citing its failure to submit the quarterly report for the period ending March 31, 2024, as an additional ground for potential delisting. Alpine 4 is now working closely with its auditors and advisors to finalize the necessary disclosures and submit the overdue filings to the Securities and Exchange Commission (SEC) promptly.
The delays pertain to the company's quarterly reports for the periods ending September 30, 2023, and March 31, 2024, as well as the annual report for the year ending December 31, 2023. Nasdaq has granted a temporary reprieve, halting the delisting process until a hearing scheduled for July 2024, where Alpine 4 plans to present its case detailing the reasons for the filing delays.
These are recent developments for Alpine 4, and the company has also received a Staff Delisting Determination from the Nasdaq due to non-compliance with filing requirements. Despite the Staff Determination, there is no immediate impact on the trading of Alpine 4's securities. The company intends to appeal the decision before a Nasdaq Hearing Panel and is seeking a stay of suspension or delisting while the appeal process is underway.
InvestingPro Insights
Alpine 4 Technologies Ltd (ALPP) is navigating through challenging times, as reflected in its market performance and financial metrics. According to InvestingPro data, the company's market capitalization has dwindled to $11.5 million, and its revenue for the last twelve months as of Q3 2023 stands at $104.2 million, indicating a growth of 15.71%. Despite this revenue growth, the company's gross profit margins are relatively weak at 21.12%, and the stock price has experienced a significant drop of -77.51% over the last year.
InvestingPro Tips suggest that ALPP operates with a significant debt burden and is trading at a low Price/Book multiple of 0.56, which could be seen as an opportunity for investors seeking undervalued stocks. However, the company is quickly burning through cash, and analysts do not anticipate profitability this year. With a negative P/E ratio of -0.41, the financial health of Alpine 4 Technologies appears strained.
For investors looking to delve deeper into ALPP's financials and future outlook, InvestingPro offers additional insights and metrics. There are 16 more InvestingPro Tips available for ALPP, which can be found at https://www.investing.com/pro/ALPP. Utilize coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, providing a more comprehensive understanding of the company's potential investment value.
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