Crown Electrokinetics Corp. (CRKN) stock has plummeted to a 52-week low, trading at just $0.12, with a market capitalization of $8.33 million. According to InvestingPro analysis, the company’s RSI indicates oversold conditions. This significant drop reflects a staggering 1-year change, with the company’s stock value eroding by -99.36%. Despite the decline, analysts project substantial revenue growth of over 800% for the current year. The current price level marks a critical juncture for the company, as it grapples with 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 a record revenue of $8 million in Q3 2024, a significant increase from the same quarter of the previous year. Despite this impressive growth, largely driven by new contracts in the Fiber Optics and Water Solutions divisions, the company noted a net loss of $5.9 million for the quarter due to increased operating expenses. Looking forward, Crown provided revenue guidance of $9 million for Q4 and $22 million for the full year of 2024, and anticipates achieving profitability by 2025.
In addition to these financial updates, Crown recently faced potential delisting from Nasdaq due to non-compliance with the exchange’s minimum bid price requirement. The company plans to request a hearing before the Nasdaq Hearings Panel to delay any delisting actions and is actively seeking to regain compliance.
In terms of recent developments, Crown secured three major customer agreements in the Fiber Optics division and broke ground on a commissioned installation of two slant wells in Cabo San Lucas, under the Water Solutions division. These developments, along with the company’s projected revenue of between $30 million and $35 million for 2025, underscore Crown’s focus on growth and its commitment to driving societal change through its technology solutions.
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