SHANGHAI - Nisun International Enterprise Development Group Co., Ltd (NASDAQ: NISN) reported that it has achieved compliance with Nasdaq's periodic filing requirements. The company received confirmation from The Nasdaq Stock Market LLC, indicating the resolution of previous concerns regarding its listing.
The Nasdaq compliance notice, received by the company today, pertains to the Listing Rule 5250(c)(1). This rule requires timely submission of periodic financial reports as a condition for continued listing on the stock exchange. With this notice, Nasdaq considers the matter closed, signaling that Nisun has fulfilled its obligations concerning the filing requirement.
Nisun International, a technology-driven company, provides integrated supply chain solutions with a focus on the intersection of technology, industry, and finance. The company's services aim to facilitate the digital transformation of corporate finance and supply chain management, catering to both Chinese and international businesses and financial institutions.
Through its subsidiary operations, Nisun offers professional solutions for managing technology supply chains, routing technology assets, and fostering the digital growth of technology and finance entities. The company's strategy includes creating an ecosystem designed for openness and empowerment within the industry. Nisun has established a multifaceted platform that integrates various sectors, including supply chain, banking, securities, and insurance, to serve the industrial supply chain's full spectrum and support supply-side reforms.
In other recent news, Nisun International Enterprise Development Group Co., Ltd disclosed that it received a Nasdaq non-compliance notice due to a delay in filing its annual report for the fiscal year ended December 31, 2023. The notice, received on May 17, indicates that Nisun failed to meet the Nasdaq Listing Rule 5250(c)(1) requirement for the timely submission of periodic financial reports. Despite this, trading of Nisun's Class A common shares on Nasdaq remains unaffected.
InvestingPro Insights
Nisun International Enterprise Development Group Co., Ltd (NISN) has recently achieved a significant regulatory milestone, but what does the financial data say about the company's performance and position? According to real-time data from InvestingPro, Nisun's market capitalization stands at a modest $32.84 million USD, reflecting the size of the company within its industry.
A notable aspect of Nisun's financial health is its Price to Earnings (P/E) ratio. With an adjusted P/E ratio of 1.5 for the last twelve months as of Q4 2023, the company is trading at a low earnings multiple, which could suggest that the stock is undervalued relative to its earnings. This is further supported by a Price / Book ratio of 0.17, indicating that the stock may be undervalued in relation to the company's net asset value.
Investors interested in the stock's performance will find that Nisun has experienced a high return over the last year, with a 122.49% price total return. This impressive growth is consistent with the company's revenue growth, which was reported at 65.12% for the same period.
InvestingPro Tips for NISN highlight that the company holds more cash than debt on its balance, which is a positive sign for financial stability. Additionally, Nisn does not pay a dividend to shareholders, which could be relevant for income-focused investors. For those looking to delve deeper into NISN's financial metrics and gain additional insights, InvestingPro offers more tips that could help inform investment decisions. Use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, and access the full suite of 15 additional InvestingPro Tips for NISN.
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