Harmony Energy Income Trust Plc ( (GB:HEIT) ) just unveiled an update.
Harmony Energy Income Trust Plc (HEIT) has announced a recommended cash acquisition by Drax BESS Holdco Limited, a subsidiary of Drax Group Plc, through a Court-sanctioned scheme of arrangement. The acquisition values HEIT at approximately £199.9 million, offering a premium on its share price, and is deemed fair and reasonable by HEIT’s directors. The acquisition is expected to impact HEIT’s trading status on the London Stock Exchange, with trading to be suspended following the scheme’s approval and implementation.
Spark’s Take on GB:HEIT Stock
According to Spark, TipRanks’ AI Analyst, GB:HEIT is a Neutral.
Harmony Energy Income Trust Plc’s overall stock score reflects significant financial challenges, marked by negative revenue and cash flow issues, which weigh heavily on the score. However, upward technical momentum and potential acquisition by Foresight Group provide positive prospects. The valuation remains mixed due to recent financial performance but could improve with strategic changes and successful acquisition outcomes.
To see Spark’s full report on GB:HEIT stock, click here.
More about Harmony Energy Income Trust Plc
YTD Price Performance: 34.25%
Average Trading Volume: 1,779,161
Technical Sentiment Signal: Sell
Current Market Cap: £198.5M
For an in-depth examination of HEIT stock, go to TipRanks’ Stock Analysis page.