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The latest update is out from Gatekeeper Systems ( (TSE:GSI) ).
Gatekeeper Systems Inc. has successfully closed a $13.5 million bought deal private placement, including the full exercise of the over-allotment option. The offering, led by Canaccord Genuity Corp. and Raymond James Ltd., involved the issuance of 6,427,476 common shares at $2.10 per share. The proceeds from this offering will be used to pursue growth opportunities, fund working capital for recently awarded major contracts, and for general corporate purposes. This strategic financial move is expected to bolster Gatekeeper’s operational capabilities and market positioning, subject to final approval from the TSX Venture Exchange.
The most recent analyst rating on (TSE:GSI) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Gatekeeper Systems stock, see the TSE:GSI Stock Forecast page.
Spark’s Take on TSE:GSI Stock
According to Spark, TipRanks’ AI Analyst, TSE:GSI is a Neutral.
Gatekeeper Systems’ overall stock score is driven by strong technical indicators and positive corporate events, which are offset by weak financial performance and valuation concerns. The company’s strategic contracts and expansions provide growth potential, but profitability and cash flow issues need addressing to improve its financial health.
To see Spark’s full report on TSE:GSI stock, click here.
More about Gatekeeper Systems
Gatekeeper Systems Inc. is a leading provider of video and data solutions aimed at enhancing safety in transportation environments for children, passengers, and drivers on public transportation fleets. The company has served over 60 transit agencies and 3,500 school districts across North America, installing more than 65,000 Mobile Data Collectors that record video and data from over 200,000 onboard devices daily. Gatekeeper’s Platform-as-a-Service (PaaS) business model focuses on these Mobile Data Collectors, which are central to its transformation into a data-centric company.
Average Trading Volume: 466,432
Technical Sentiment Signal: Buy
Current Market Cap: C$240.2M
See more data about GSI stock on TipRanks’ Stock Analysis page.