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SINGAPORE - SKK Holdings Limited (NASDAQ:SKK), a civil engineering service provider specializing in subsurface utility works in Singapore, announced Friday it has received a 180-day extension from Nasdaq to regain compliance with the exchange’s minimum bid price requirement. The stock currently trades at $0.35, down 64% year-to-date, though InvestingPro analysis suggests the company is undervalued at current levels.
The company, which failed to maintain the required $1 per share minimum bid price during the initial compliance period ending October 13, now has until April 13, 2026, to meet the listing standard, according to a Nasdaq notification letter dated October 14. The stock has fallen significantly from its 52-week high of $11.45, with trading volume averaging 520,000 shares daily over the past three months.
SKK’s shares will continue trading uninterrupted under the symbol SKK throughout the extension period. The company stated it is evaluating options to regain compliance within the additional timeframe, though it noted there is no guarantee it will succeed in meeting Nasdaq’s requirements.
The initial notification of non-compliance was issued on April 14, 2025, after SKK’s closing bid price fell below the minimum threshold for the period from February 28 to April 11, 2025.
SKK Holdings provides civil engineering services for public utility projects in Singapore, including power and telecommunication cable laying, water pipeline works, and sewer rehabilitation. The company has over 10 years of experience in the sector. Despite market challenges, SKK has demonstrated strong revenue growth of 56% in the last twelve months, with a gross profit margin of 44%. Get deeper insights into SKK’s financial health and growth potential with InvestingPro, which offers exclusive analysis and real-time metrics.
The announcement was made in a press release issued by the company.
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