In a challenging market environment, Know Labs Inc. (KNW) stock has touched a new 52-week low, reaching a price level of $0.23. This latest dip underscores a period of volatility for the company, which has seen its shares struggle to gain momentum over the past year. The 1-year change data for Know Labs reflects a decline of 8.49%, signaling a bearish phase for investors who have witnessed the stock's fluctuating performance. The current 52-week low serves as a critical juncture for Know Labs, as market watchers and stakeholders closely monitor the company's ability to navigate through the headwinds and strategize for a potential rebound.
In other recent news, Know Labs, Inc. has been navigating through several significant developments. The company has been notified of non-compliance with NYSE American continued listing standards due to reported losses over recent fiscal years. In response, Know Labs is required to submit a compliance plan, outlining how it plans to meet the exchange's listing standards.
In financial news, the company disclosed a Q3 net loss of $4.1 million for fiscal year 2024, marking an improvement from the previous year. Know Labs also successfully raised $1.655 million in a recent financing round, with Boustead Securities, LLC and The Benchmark Company, LLC acting as advisors.
On the leadership front, changes have been made to the board of directors, with Timothy Londergan stepping down and Ichiro Takesako filling the vacancy in the Audit Committee.
Know Labs is also making progress with its non-invasive glucose monitor, KnowU, which is currently in clinical trials and awaiting FDA clearance. Additionally, the company is actively pursuing intellectual property monetization and patent licensing, having identified over 600 proprietary elements for its platform technology. These are recent developments that reflect Know Labs' ongoing efforts to manage its financial challenges while working towards enhancing shareholder value.
InvestingPro Insights
The recent downturn in Know Labs Inc. (KNW) stock is further illuminated by real-time data from InvestingPro. As of the latest quarter, the company's market capitalization stands at a modest $25.65 million, reflecting its current struggles. InvestingPro Tips highlight that KNW is "quickly burning through cash" and "suffers from weak gross profit margins," which aligns with the stock's recent performance and new 52-week low.
The company's financial health appears precarious, with InvestingPro data showing an adjusted operating income of -$14.37 million for the last twelve months. This negative figure corresponds with another InvestingPro Tip indicating that KNW is "not profitable over the last twelve months." The stock's volatility is further emphasized by its significant price movements, with a 6-month total return of -63.61% and a year-to-date return of -52.46%.
Despite these challenges, analysts have set a fair value target of $1.00 for KNW, suggesting potential upside from its current price of $0.24. However, investors should approach this target with caution, given the company's financial performance and market position.
For those seeking a more comprehensive analysis, InvestingPro offers 10 additional tips that could provide deeper insights into Know Labs' investment potential.
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