Abaxx and Zhonggong Explore LNG Procurement Partnership

Abaxx Technologies Inc ( (TSE:ABXX) ) has shared an update.

Abaxx Technologies Inc. announced a potential partnership between Abaxx Exchange and Zhonggong Petroleum & Natural Gas Co., Ltd. to explore LNG procurement and trading services. This collaboration aims to connect Zhonggong’s infrastructure investments in China with Abaxx’s trading network, enhancing LNG procurement, price transparency, and logistics connectivity. The partnership is expected to support China’s growing LNG demand, offering stable supply and efficient energy solutions.

Spark’s Take on TSE:ABXX Stock

According to Spark, TipRanks’ AI Analyst, TSE:ABXX is a Neutral.

Abaxx Technologies Inc. has strong revenue growth and a solid balance sheet, but it remains unprofitable with negative cash flow, significantly impacting its financial performance score. Technical analysis points to a stable stock price without significant upward momentum. Valuation metrics are poor due to negative profitability. However, strategic corporate events positively influence the overall score by enhancing financial stability and market potential.

To see Spark’s full report on TSE:ABXX stock, click here.

More about Abaxx Technologies Inc

Abaxx Technologies Inc. is a financial software and market infrastructure company that owns Abaxx Singapore, which operates the Abaxx Commodity Exchange and Clearinghouse. The company focuses on developing technologies to facilitate communication, trade, and transactions, particularly in the energy and commodity markets. Abaxx Exchange provides market infrastructure for the transition to a low-carbon economy through futures contracts in LNG, carbon, battery materials, and precious metals.

Average Trading Volume: 193,538

Technical Sentiment Signal: Buy

Current Market Cap: C$61.56M

For a thorough assessment of ABXX stock, go to TipRanks’ Stock Analysis page.