September 27th, 2024 | 07:20 CEST
Almonty Industries, PowerCell Sweden, Nordex – It is all happening in quick succession
The FED's interest rate cut and announcements of further easing of monetary policy are giving the indices additional momentum. The German-leading index DAX, the Dow Jones, and the S&P 500 continue to jump from high to high. In contrast, companies in the hydrogen fuel cell sector are more than 90% away from their historical record highs. However, several companies are currently forming a sustainable bottom that could lead to a sharp rebound.
time to read: 3 minutes | Author: Stefan Feulner
ISIN: ALMONTY INDUSTRIES INC. | CA0203981034 , POWERCELL SWEDEN SK-_022 | SE0006425815 , NORDEX SE O.N. | DE000A0D6554
Table of contents:
Author
Stefan Feulner
The native Franconian has more than 20 years of stock exchange experience and a broadly diversified network.
He is passionate about analyzing a wide variety of business models and investigating new trends.
Tag cloud
Shares cloud
PowerCell Sweden – Impulsive rebound
Are companies in the hydrogen fuel cell technology sector starting a longer-term countermovement after months of a dry spell? While the chart situation for Nel ASA and Plug Power does not yet suggest a significant upward turnaround, the stock of the Swedish developer and producer of fuel cells has been booming for weeks. Since the year's low on August 28, the stock has gained almost 70% to currently EUR 3.37.
From a chart perspective, the signs for further price gains are excellent. In addition to the rising volume, positive divergences have been forming in the relative strength index for months. The next important hurdle is the striking horizontal resistance at EUR 3.54. If this mark, where the EMA 50 is also located, is exceeded, the bottoming out phase would be complete. The next target would then be at EUR 8.45.
The upward trend was accelerated by the publication of a significant order. According to the announcement, PowerCell has signed a contract with a "leading" Italian shipbuilding OEM for the largest order to date for fuel cell systems for the shipping industry. As was announced, the value of the three-part order is approximately 165 million Swedish Krona, the equivalent of EUR 14.34 million, and includes a total of 56 units of the marine system 225.
Almonty Industries – Test production successfully completed
The upward trend of the Almonty Industries share also continues. However, even after the stock market value doubled, with a market capitalization of CAD 206.89 million at the current price of CAD 0.80, the potential remains enormous. The reason for this is clear. Almonty Industries, based in Toronto, is primarily engaged in the mining, processing, and shipping of tungsten concentrate from its Los Santos mine in western Spain and its Panasqueira mine in Portugal. It is also developing its Sangdong tungsten mine in the South Korean province of Gangwon and the Valtreixal tin/tungsten project in northwestern Spain.
The mine in South Korea offers significant upside potential for the Company, as Sangdong will account for around 30% of global tungsten production outside China in the future. Initially, 2.3 t of tungsten oxide is to be mined there annually, with the aim of gradually increasing this rate to 4.8 t.
Almonty, led by experienced CEO Lewis Black, recently announced the completion of test runs at the pilot plants for the production of tungsten concentrate, a further milestone. With the measures now in place, all preparations for process technology and plant performance have been completed. The Company expects stable tungsten concentrate production in Sangdong as early as next year.
Nordex – Filling the order books
The Hamburg-based wind turbine manufacturer Nordex has seen its share price rise 35% to EUR 14.23 since the beginning of the year. After the failed attempt to break through the year's high of EUR 15.77 on May 14, 2024, the share price was corrected, buoyed by sell signals from the trend-following indicators MACD and RSI. The next important support is the upward trend established since January, currently at EUR 12.85.
By contrast, the order backlog is currently developing positively. After the Hamburg-based company recently announced a significant order from Poland, Nordex is further expanding its expansion into the Baltic states with a major order from Latvia. Nordex will supply six N175/6.X wind turbines to the energy subsidiary of Laflora, a Latvian peat producer. These powerful turbines are to be used in a wind farm with a planned total output of almost 109 megawatts.
In a press release, Nordex emphasized the strategic importance of this contract: "The Nordex Group has been operating in Estonia and Lithuania for many years. Now, it will gain a foothold in Latvia for the first time." Chief Sales Officer Patxi Landa emphasized the suitability of the turbines for the region: "We are convinced that the N175/6.X is ideal for many projects in Latvia, Lithuania, and Estonia."
PowerCell Sweden's upward trend was spurred on by a major order. Nordex is expanding further into the Baltic States. Almonty Industries reported successfully completing its test runs at the pilot plants in Portugal and South Korea.
Conflict of interest
Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a "Transaction"). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company.
In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships.
For this reason, there is a concrete conflict of interest.
The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies.
Risk notice
Apaton Finance GmbH offers editors, agencies and companies the opportunity to publish commentaries, interviews, summaries, news and the like on news.financial. These contents are exclusively for the information of the readers and do not represent any call to action or recommendations, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. The contents do not replace individual expert investment advice and do not constitute an offer to sell the discussed share(s) or other financial instruments, nor an invitation to buy or sell such.
The content is expressly not a financial analysis, but a journalistic or advertising text. Readers or users who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between Apaton Finance GmbH and its readers or the users of its offers, as our information only refers to the company and not to the investment decision of the reader or user.
The acquisition of financial instruments involves high risks, which can lead to the total loss of the invested capital. The information published by Apaton Finance GmbH and its authors is based on careful research. Nevertheless, no liability is assumed for financial losses or a content-related guarantee for the topicality, correctness, appropriateness and completeness of the content provided here. Please also note our Terms of use.
