Crispr Therapeutics shares tumble after significant earnings miss
In a challenging market environment, Knowles Corporation (NYSE:KN) stock has touched a 52-week low, dipping to $12.19, with InvestingPro data showing a steep 16% decline just in the past week. Technical analysis from InvestingPro indicates the stock is currently in oversold territory. The audio solutions provider, known for its micro-acoustic, audio processing, and precision device solutions, has faced significant headwinds over the past year, reflected in a notable 1-year change with a decrease of -19.83%. Despite these challenges, the company maintains a healthy balance sheet with a current ratio of 1.83 and operates with moderate debt levels. Investors are closely monitoring the company's performance as it navigates through the pressures of a competitive industry and broader economic factors that have impacted its stock price. The current low presents a critical moment for Knowles Corp as it strives to regain momentum and investor confidence. According to InvestingPro's analysis, the stock appears undervalued at current levels, with 12 additional exclusive insights available to subscribers.
In other recent news, Knowles Corporation reported its fourth-quarter 2024 earnings, which showed a slight miss on both earnings per share (EPS) and revenue forecasts. The company posted an EPS of $0.27, falling short of the forecasted $0.28, and reported revenue of $142.5 million, below the expected $146 million. Additionally, Knowles Corp recently upgraded its stock rating from Hold to Buy, with Craig-Hallum setting a new price target at $14.00, indicating a positive outlook from the analyst. In executive compensation news, Knowles disclosed an equity award to CEO Jeffrey S. Niew, consisting of performance share units (PSUs) valued at $1.5 million, contingent on achieving certain revenue and earnings milestones by the end of 2027. The company's full-year 2024 revenue grew by 21% from continuing operations, demonstrating strong performance despite the quarterly shortfall. Knowles also completed the sale of its consumer MEMS microphone business and secured a significant $75 million order in the energy sector. These developments reflect ongoing strategic efforts and market activities for Knowles Corporation.
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