Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Chariot Oil & Gas ( (GB:CHAR) ) has provided an update.
Chariot Limited has signed a Memorandum of Understanding with ACWA Power to explore the creation of a sustainable energy platform in Southern Africa. This partnership aims to develop and operate transitional power assets, including renewable energy, battery storage, and gas-to-power, targeting countries such as South Africa, Botswana, and Namibia. The collaboration leverages both companies’ expertise to unlock investment opportunities and deliver scalable energy projects. This strategic move is part of Chariot’s broader plan to separate into two distinct entities and enhance its power generation platform, potentially impacting its market positioning and stakeholder interests.
The most recent analyst rating on (GB:CHAR) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on Chariot Oil & Gas stock, see the GB:CHAR Stock Forecast page.
Spark’s Take on GB:CHAR Stock
According to Spark, TipRanks’ AI Analyst, GB:CHAR is a Neutral.
Chariot Oil & Gas faces significant financial challenges with ongoing losses and negative cash flows, heavily impacting its overall score. While technical indicators show some positive momentum, poor valuation metrics further weigh down the score.
To see Spark’s full report on GB:CHAR stock, click here.
More about Chariot Oil & Gas
Chariot is an Africa-focused energy group with two main business streams: Upstream Oil and Gas, and Renewable Power. The company is involved in building a full-value chain upstream growth business within Africa, with a diverse footprint in Morocco. Chariot is also focused on providing competitive and sustainable energy solutions, including renewable power generation and trading in South Africa, and developing its green hydrogen asset, Project Nour, in Mauritania.
Average Trading Volume: 3,563,112
Technical Sentiment Signal: Sell
Current Market Cap: £30.35M
See more insights into CHAR stock on TipRanks’ Stock Analysis page.