Street Calls of the Week
XI’AN, CHINA - Enlightify Inc. (NYSE:ENFY) announced Wednesday it has notified the New York Stock Exchange of its intention to address a price deficiency after its common stock’s 30-trading-day average closing price fell below the $1.00 minimum required for continued listing. The stock, currently trading at $1.04, has declined 37.64% over the past year, according to InvestingPro data.
Under NYSE regulations, the company has six months, with possible extension, to regain compliance with the continued listing standard and avoid delisting. During this period, Enlightify’s common stock will continue trading on the NYSE, provided the company meets other listing requirements. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with a notably low Price/Book ratio of 0.18.
The notification does not impact Enlightify’s business operations, SEC reporting obligations, or trigger any defaults under the company’s material debt arrangements or agreements, according to the press release statement.
Enlightify, which produces and distributes humic acid-based compound fertilizers and other agricultural products through its subsidiaries Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd. and Beijing Gufeng Chemical Products Co., Ltd., expanded its business in 2023 to include digital asset mining operations. The company established Antaeus Tech Inc. in Delaware and began mining bitcoin in Texas.
The company did not specify what measures it plans to implement to address the stock price deficiency.
In other recent news, Enlightify Inc. has received a delisting notice from the New York Stock Exchange due to its stock falling below the $1.00 average closing price requirement over 30 trading days. The company has until September 2025 to submit a compliance plan and a six-month period until February 2026 to meet the listing standards. Additionally, Enlightify announced the strategic repositioning of its subsidiary, Anteaus LLC, to focus on blockchain solutions. Anteaus will now concentrate on services such as staking, node operations, digital asset management, and structured products development. This move marks a shift from its original purpose of exploring emerging technologies. These developments highlight Enlightify’s ongoing efforts to adapt and maintain its market presence amidst challenges.
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