Movers and SHAKERS
Capstone Green Energy Corporation (CGRN)
Stock offering reflects new aggressive stance
Capstone Green Energy Corp is the producer of low-emission microturbine systems.The company develops, manufactures, markets and services microturbine technology solutions for use in stationary distributed power generation applications. Capstone Turbine's products include onboard generation for hybrid electric vehicles; conversion of oil field and biomass waste gases into electricity; combined heat, power, and chilling solutions; capacity addition; and standby power.
Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
CGRN entered into a underwriting agreement to sell 952,380 shares of common stock at $5.25 per share. The offering less discounts and commissions should increase Capstone's cash position by $5 million, $5.7 million if the overallotment is exercised. The proceeds will be used for working capital, general corporate purposes and growth initiatives.
A much-strengthened balance sheet becomes even stronger. CGRN recently reported fourth quarter and fiscal 2021 financial results. Results were generally in line, but we did note that the company's cash position had significantly improved to $50 million from $15 million. CGRN's debt position, which increased with a debt restructuring that lowered interest rates, rose a more modest amount to $53 ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.