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UrbanGro Inc. (UGRO) shares have tumbled to a 52-week low, touching down at $0.34, as the company grapples with a challenging market environment. According to InvestingPro data, the company’s overall financial health score stands at 1.25 out of 5, labeled as "WEAK," with concerning metrics including a negative EBITDA of -$11M and a troubling current ratio of 0.74. This latest price level reflects a significant downturn from previous periods, with the stock experiencing a precipitous 1-year change, plummeting by -74.15%. Investors are closely monitoring UrbanGro’s performance, as the stock’s current position starkly contrasts with its more robust past, raising concerns about the company’s future prospects and the broader sector’s health. InvestingPro analysis suggests the stock is currently undervalued, though subscribers have access to 17 additional crucial ProTips and a comprehensive Pro Research Report that could help inform investment decisions in this volatile situation.
In other recent news, urban-gro, Inc. has encountered a compliance issue with Nasdaq due to delays in filing its financial reports. The company has not submitted its required quarterly and annual reports for specific periods, attributing the delays to previous financial restatements and turnover in its finance department. Despite this, urban-gro has until June 16, 2025, to propose a plan to regain compliance, potentially extending the deadline to October 13, 2025, if accepted. On a positive note, urban-gro has secured a contract to construct a new Fogo de Chão restaurant in Oregon, with most revenue expected by the third quarter of 2025. Additionally, the company announced three new contracts with Fogo de Chão for locations in Utah, Nevada, and California, further strengthening their partnership. In financial developments, urban-gro has amended its loan agreement with Gemini Finance Corp., extending the loan period and adjusting interest rates. The amendment includes issuing 150,000 shares to Gemini as an amendment fee. Furthermore, urban-gro signed a $1.2 million deal with the Muscogee County School District in Georgia to enhance school safety, with revenue recognition expected within the next three quarters of 2025.
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