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The latest announcement is out from Amplitude Energy ( (AU:AEL) ).
Amplitude Energy Limited has successfully completed its institutional entitlement offer and placement, raising $131 million to fund the expansion of its East Coast Supply Project and the potential restart of the Patricia Baleen project. The strong support from institutional shareholders and new investors highlights confidence in the company’s growth strategy, which aims to enhance its market position by supplying lower-cost domestic gas to high-demand areas.
The most recent analyst rating on (AU:AEL) stock is a Buy with a A$0.34 price target. To see the full list of analyst forecasts on Amplitude Energy stock, see the AU:AEL Stock Forecast page.
More about Amplitude Energy
Amplitude Energy Limited operates within the energy sector, focusing on the supply of domestic gas. The company is actively engaged in projects aimed at expanding its infrastructure and market presence, particularly in southeastern states where there is a high demand for lower-cost domestic gas.
Average Trading Volume: 6,164,289
Technical Sentiment Signal: Buy
Current Market Cap: A$715.9M
Learn more about AEL stock on TipRanks’ Stock Analysis page.