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The latest announcement is out from Chariot Oil & Gas ( (GB:CHAR) ).
Chariot Limited has sold its water business, including its 80% interest in the Oasis Water Platform and a proof-of-concept desalination project in Djibouti, to AquaNexus Holding for US$435,000 in cash, as it sharpens its focus on core electricity trading and generation activities within its Power division across southern Africa. The divestment removes a small, loss-making operation that generated US$162,000 in revenue and a US$100,000 loss in 2024, allowing Chariot to redeploy proceeds for general corporate purposes and streamline its portfolio around higher-priority energy and renewable power projects on the continent.
The most recent analyst rating on (GB:CHAR) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on Chariot Oil & Gas stock, see the GB:CHAR Stock Forecast page.
Spark’s Take on GB:CHAR Stock
According to Spark, TipRanks’ AI Analyst, GB:CHAR is a Neutral.
Chariot Oil & Gas’s overall stock score reflects significant financial challenges and bearish technical indicators. However, strategic corporate events, including partnerships and a shift towards renewable energy, offer potential for future improvement. The company’s valuation remains unattractive due to ongoing losses.
To see Spark’s full report on GB:CHAR stock, click here.
More about Chariot Oil & Gas
Chariot Limited is an Africa-focused energy group with two main business streams: Upstream Oil & Gas and Renewable Power. Its renewables arm concentrates on building, generating and trading renewable power in South Africa, developing power-to-mining projects across the continent, and advancing its green hydrogen Project Nour in Mauritania. The company’s ordinary shares trade on AIM under the ticker CHAR.
Average Trading Volume: 3,072,124
Technical Sentiment Signal: Sell
Current Market Cap: £25.24M
See more insights into CHAR stock on TipRanks’ Stock Analysis page.