Shares of Super Micro Computer (SMCI) hit a new 52-week low on Thursday morning as the AI-focused hardware company struggles with filing its quarterly report (Form 10-Q) for the period ending September 30. The San Jose-based company notified the U.S. Securities and Exchange Commission of the delay in a recent filing, saying it needs more time to select and engage a new accounting firm to review financial statements for fiscal 2024.

Having already missed the deadline for its 2024 Form 10-K or annual report, Super Micro faces a potential Nasdaq delisting. After receiving a non-compliance letter in September, Super Micro has until November 16 to submit a plan to Nasdaq (NDAQ) to regain compliance, or it could face delisting for the second…