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BluMetric Environmental ( (TSE:BLM) ) has issued an announcement.
BluMetric Environmental Inc. has successfully closed a $15 million brokered offering, issuing over 11 million common shares at $1.30 each. The proceeds will fund the acquisition of DS Consultants Ltd., a firm specializing in engineering consulting services, and support general corporate purposes. This strategic acquisition aligns with BluMetric’s disciplined approach to growth and is expected to enhance its market position by integrating DS Consultants’ expertise in geotechnical engineering and environmental services.
The most recent analyst rating on (TSE:BLM) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on BluMetric Environmental stock, see the TSE:BLM Stock Forecast page.
Spark’s Take on TSE:BLM Stock
According to Spark, TipRanks’ AI Analyst, TSE:BLM is a Neutral.
BluMetric Environmental’s stock score is primarily influenced by its mixed financial performance and positive technical indicators. While revenue growth and stable leverage are positives, profitability and cash flow challenges weigh heavily. The technical analysis suggests some positive momentum, but valuation concerns due to negative earnings and lack of dividends limit the overall attractiveness.
To see Spark’s full report on TSE:BLM stock, click here.
More about BluMetric Environmental
BluMetric Environmental Inc. is an engineering WaterTech and full-service environmental consulting firm. The company focuses on providing solutions in water technology and environmental consulting, serving various markets with its expertise.
Average Trading Volume: 49,283
Technical Sentiment Signal: Buy
Current Market Cap: C$48.76M
Find detailed analytics on BLM stock on TipRanks’ Stock Analysis page.