SPI Energy Co Ltd (NASDAQ: SPI) is having an incredible day in the market today after announcing that it has completed a key acquisition. As you could imagine, the news proved to be exciting to investors. Today, we’ll talk about:
- The acquisition;
- what we’re seeing from SPI stock as a result; and
- what we’ll be watching for ahead.
SPI Stock Gains On Acquisition News
As mentioned above, SPI Energy is having a great day in the market today after announcing acquisition news. In a press release issued early this morning, the company said that it has completed the acquisition of interest in HELIOHRIST S.A.
The acquisition is a big deal because it comes with 1.998 megawatts of photovaltaic projects in Greece. This gives the company a strong opportunity to realize significant growth in revenue.
The company was acquired from THERMI TANEO Venture Capital Fund with a price of EUR1.7 million per MW.
The acquisition includes a total of four PV plants with 7.4MWp PV installations in northern Greece. These installations have been part of the Greek power grid since 2012 and are currently operational.
What We’re Seeing From The Stock
As investors, we know that it’s important to keep an eye on the news. After all, the news moves the market. When it comes to SPI, the news proved to be incredibly positive.
After all, the completion of this acquisition means that we can expect to see strong gains in revenue ahead. With the main goal of investors being to see growth, this is just the type of move that moves the needle.
As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:07), SPI is trading at $4.76 per share after a gain of $2.15 per share or 82.38% thus far today.
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What We’ll Be Watching For Ahaed
Moving forward, the CNA Finance team will continue to keep a close eye on SPI. In particular, we’re interested in following coming earnings reports to see how significant the growth in revenue from these transactions will be. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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