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.
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