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Graphene Manufacturing Group Ltd ( (TSE:GMG) ) has issued an announcement.
Graphene Manufacturing Group Ltd has been granted a patent for its Graphene Aluminium Ion Battery in Australia and is working on patenting in other countries. The company has entered a new Collaborative Research Agreement with the University of Queensland to further develop this technology, supported by Australian Government funding. This collaboration aims to enhance the commercialization of the battery, which could significantly impact GMG’s operations and industry positioning. Additionally, GMG has shifted focus from constructing a battery pilot plant in Australia to collaborating with the Battery Innovation Center in the USA for the next development phase.
The most recent analyst rating on (TSE:GMG) stock is a Buy with a C$8.00 price target. To see the full list of analyst forecasts on Graphene Manufacturing Group Ltd stock, see the TSE:GMG Stock Forecast page.
Spark’s Take on TSE:GMG Stock
According to Spark, TipRanks’ AI Analyst, TSE:GMG is a Neutral.
Graphene Manufacturing Group Ltd’s overall stock score reflects a challenging financial and valuation environment, offset by positive corporate events. While profitability and cash flow issues persist, strategic initiatives in product development and production expansion offer potential growth opportunities. Technical indicators suggest cautious investor sentiment, highlighting the need for improved operational efficiency to drive future performance.
To see Spark’s full report on TSE:GMG stock, click here.
More about Graphene Manufacturing Group Ltd
Graphene Manufacturing Group Ltd (GMG) is an Australian clean-technology company specializing in energy saving and energy storage solutions. The company manufactures graphene through a proprietary process that decomposes natural gas into carbon, hydrogen, and hydrocarbon gases. GMG focuses on developing commercial scale-up capabilities and market applications, particularly in graphene-enhanced HVAC-R coatings and graphene lubricant additives for diesel engines. In the energy storage segment, GMG collaborates with the University of Queensland to advance graphene aluminium-ion batteries.
Average Trading Volume: 56,761
Technical Sentiment Signal: Sell
Current Market Cap: C$65.56M
See more insights into GMG stock on TipRanks’ Stock Analysis page.