These conslusions you're drawing, are they based on the share price? My understanding is that the present share price has more to do with the financer dumping shares. And, has less to do with what the company is presently doing.
When determining whether or not to average down, I always ask myself: has anything changed, fundamentally, about the company that is driving down the share price? If the answer is "no," then I average down. That strategy has worked very well for me in the past. Here I see nothing fundamental about the company that is driving down the share price. It's just a third party (i.e., the former fianancer) dumping shares. So, that's why I've been averaging down like a mf.