Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Shapeways faces Nasdaq compliance issue over delayed filing

Published 05/25/2024, 04:18 AM
© Reuters.
SHPW
-

NEW YORK - Shapeways Holdings, Inc. (NASDAQ: SHPW), a company specializing in digital manufacturing, has been notified by Nasdaq that it is currently not in compliance with a key listing rule. The notification, dated May 22, 2024, indicated that Shapeways failed to file its quarterly report for the period ending March 31, 2024, within the prescribed timeframe.

The Nasdaq Listing Rule 5250(c)(1) mandates the timely submission of periodic financial reports to the Securities and Exchange Commission (SEC). Although the notice does not immediately affect the trading of Shapeways' common stock or publicly traded warrants, it requires the company to submit a plan to regain compliance by July 22, 2024.

If Nasdaq accepts Shapeways' compliance plan, the company may be granted an extension of up to 180 days from the original due date of the quarterly report, which would be until November 18, 2024, to file the necessary documents and regain compliance. Should Shapeways fail to comply within the granted period, or if Nasdaq rejects the plan, the company could face delisting.

Shapeways has the option to request a hearing before a Nasdaq Hearing Panel if a delisting determination is issued. However, there is no certainty that Nasdaq will approve the compliance plan, that the hearing process will be in Shapeways' favor, or that the company will regain compliance within any granted extension.

InvestingPro Insights

In light of Shapeways Holdings, Inc.'s (NASDAQ: SHPW) recent compliance issue with Nasdaq, investors may be scrutinizing the company's financial health and market performance more closely. According to real-time data from InvestingPro, Shapeways is currently trading at a low Price / Book multiple of 0.3, which could be of interest to value investors looking for potentially undervalued stocks. Additionally, the company's market capitalization stands at a modest 8.14M USD, reflecting a smaller player in the digital manufacturing sector.

InvestingPro Tips for Shapeways highlight that the company holds more cash than debt on its balance sheet, which is a positive sign for liquidity and financial stability. On the other hand, Shapeways is not expected to be profitable this year, according to analysts, and the stock has experienced significant price declines over various time frames, including a 28.26% drop over the last month.

For investors considering Shapeways as a potential investment, it's worth noting that the company has liquid assets that exceed short term obligations, which could provide some cushion against operational headwinds. However, the company's rapid cash burn and poor free cash flow yield are areas of concern that may require careful analysis.

Those interested in a deeper dive into Shapeways' financials and market performance can find additional InvestingPro Tips by visiting https://www.investing.com/pro/SHPW. With the promo code PRONEWS24, readers can receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to an extensive array of insights, including 13 more InvestingPro Tips for Shapeways.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.