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In a challenging market environment, Auddia Inc. (AUUD) stock has recorded a new 52-week low, dipping to $0.27, with the current price at $0.28. According to InvestingPro data, the company’s market capitalization stands at just $1.58 million, while maintaining a healthy current ratio of 7.83. This latest price level reflects a significant downturn for the company, which has seen its stock value plummet by -91.37% over the past year. Investors have been closely monitoring Auddia’s performance, as the audio technology firm grapples with the pressures that have led to this substantial decline. The company’s overall financial health score of 1.28 is rated as WEAK by InvestingPro, with EBITDA at -$7.65 million. The stock currently trades at a Price/Book ratio of 0.26, suggesting potential undervaluation according to InvestingPro’s Fair Value analysis. For deeper insights and additional ProTips about AUUD’s financial position, investors can access comprehensive analysis on InvestingPro.
In other recent news, Auddia Inc. held its 2024 Annual Meeting of Stockholders, where several key proposals were approved. Shareholders elected five directors, including Jeffrey Thramann and Michael Lawless, to serve until the 2025 annual meeting. A proposal to ratify Haynie & Company as the independent registered accounting firm received significant support. Additionally, shareholders granted the board discretionary authority for a proposed reverse stock split. The issuance of shares related to the company’s equity line and Series B convertible preferred stock was also approved. Another proposal concerning the issuance of shares for the retirement and conversion of previously outstanding secured bridge notes passed. An amendment to the 2020 equity incentive plan received approval as well. These developments were confirmed in a recent 8-K filing with the Securities and Exchange Commission.
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