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Hillcrest Energy Technologies ( (TSE:HEAT) ) has shared an update.
Hillcrest Energy Technologies has closed the final tranche of its previously announced unit offering, raising total gross proceeds of about $4.59 million at $0.09 per unit through a combination of cash subscriptions and the settlement of outstanding debt with an arm’s-length creditor. The financing, which included a strategic investment from Pasqua First Nation and resulted in the issuance of over 51 million common shares and an equal number of warrants, strengthens the company’s balance sheet and reduces debt while providing capital to advance and commercialize its ZVS power-conversion technology, support marketing and investor-relations efforts, and fund general working capital needs, potentially improving its operational runway and positioning within the electrification and renewables market.
The most recent analyst rating on (TSE:HEAT) stock is a Hold with a C$0.14 price target. To see the full list of analyst forecasts on Hillcrest Energy Technologies stock, see the TSE:HEAT Stock Forecast page.
Spark’s Take on TSE:HEAT Stock
According to Spark, TipRanks’ AI Analyst, TSE:HEAT is a Neutral.
The score is primarily held down by very weak financial performance (minimal revenue, ongoing losses/cash burn, and negative equity with rising debt). Technicals are comparatively supportive with the stock trading above major moving averages and positive MACD, while valuation offers limited support due to losses and no dividend. Corporate events add a modest positive tilt via financing and partnership momentum.
To see Spark’s full report on TSE:HEAT stock, click here.
More about Hillcrest Energy Technologies
Hillcrest Energy Technologies is a publicly traded energy technology company that develops advanced power conversion technologies and digital control systems for next-generation electric powertrains and grid-connected renewable energy systems, with a focus on enabling a more sustainable and electrified energy future.
Average Trading Volume: 193,631
Technical Sentiment Signal: Buy
Current Market Cap: C$14.54M
For a thorough assessment of HEAT stock, go to TipRanks’ Stock Analysis page.