BofA’s Hartnett says concentrated U.S. stock returns are likely to persist
Boxlight Corporation (NASDAQ:BOXL), a leading provider of interactive technology solutions for the educational market, has seen its stock price touch a 52-week low, trading at $1.51. With a market capitalization of just $5.04 million, InvestingPro data shows the stock’s RSI indicates oversold territory, while the company maintains a healthy current ratio of 2.1. This latest price level reflects a significant downturn for the company, which has experienced a 1-year change with a sharp decline of 67.64%, amid a concerning 16.61% revenue decline. Investors are closely monitoring Boxlight’s performance as the company navigates through a challenging market environment, with its stock price struggling to regain momentum. The 52-week low serves as a critical indicator for shareholders and potential investors, as they assess the company’s future prospects and strategic initiatives aimed at driving growth and recovery. InvestingPro analysis suggests the stock is currently undervalued, with 15+ additional ProTips available to subscribers for deeper insight into BOXL’s financial health and market position.
In other recent news, Boxlight Corporation announced preliminary financial results for 2024, indicating a decrease in consolidated net revenues to approximately $137.1 million, down from $176.7 million the previous year. Despite the revenue drop, the company expects an improvement in its operating loss, projected between $18.5 million and $19.5 million, compared to $26.3 million in 2023. The estimated gross profit margin for 2024 is approximately 34.6%, slightly lower than the 35.8% reported in 2023. Operating expenses are expected to significantly decrease to between $66.0 million and $67.0 million from $89.6 million the previous year. These preliminary figures are subject to change upon the completion of financial closing procedures.
Additionally, Boxlight declared a 1-for-5 reverse stock split of its Class A common stock to comply with Nasdaq’s minimum bid price requirement. This reverse stock split will take effect on February 14, 2025, with trading on a split-adjusted basis beginning on February 18, 2025. The total number of authorized shares of Class A common stock will be reduced from 18,750,000 to 3,750,000, while the par value remains unchanged. Stockholders will not receive fractional shares; instead, fractions will be rounded up to the nearest whole share. This move is part of Boxlight’s efforts to maintain its Nasdaq listing.
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