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SIMEC Atlantis Energy ( (GB:AMP) ) has provided an announcement.
Ampeak Energy and Proteus Marine Renewables have completed a key phase of offshore work at the MeyGen tidal stream site in Scotland’s Pentland Firth, successfully inspecting, maintaining and redeploying three of the project’s four turbines, with two units returning directly to operation and a third sent to shore for servicing. The operations, which included five turbine interventions in three days and left the long-running TTG 3 turbine continuing maintenance-free, reinforce MeyGen’s status as the world’s largest and most productive tidal stream project, underpin its planned expansion from current capacity support of 65MW towards about 400MW, and highlight the maturing commercial viability and bankability of subsea tidal turbines through low-risk, repeatable offshore methods and deep collaboration among project partners.
The most recent analyst rating on (GB:AMP) stock is a Hold with a £3.50 price target. To see the full list of analyst forecasts on SIMEC Atlantis Energy stock, see the GB:AMP Stock Forecast page.
Spark’s Take on GB:AMP Stock
According to Spark, TipRanks’ AI Analyst, GB:AMP is a Neutral.
The overall stock score is primarily influenced by the company’s strong technical momentum and positive corporate events, which are offset by significant financial challenges and poor valuation metrics. The strategic growth in battery storage projects and positive market sentiment provide a promising outlook, but financial instability remains a critical risk.
To see Spark’s full report on GB:AMP stock, click here.
More about SIMEC Atlantis Energy
Ampeak Energy is a global developer, owner and operator of sustainable energy projects, best known for owning the world’s flagship MeyGen tidal stream project in Scotland and the Uskmouth Power Station site, which it is converting into one of the UK’s largest battery energy storage facilities. The company focuses on advancing tidal stream and other clean energy technologies as part of a broader strategy to build a sustainable power portfolio to 2035.
Average Trading Volume: 2,448,398
Technical Sentiment Signal: Buy
Current Market Cap: £21.68M
For an in-depth examination of AMP stock, go to TipRanks’ Overview page.