Every Crisis Creates an Opportunity: Nordex Stumbles, Jungheinrich Struggles, and RE Royalties Looks to Have Found a Bottom

Nordex: Order Books Are Full, but the Market Remains Sceptical

Wind power is regarded as one of the central pillars of the global energy transition, but the path on the stock market is rarely without turbulence for turbine manufacturers. Nordex shares have recently fallen noticeably and are currently trading at around EUR 35.60. Although large orders have come in from various European countries as well as Türkiye, investors remain cautious. The market appears to doubt whether the impressive order volume can quickly be converted into sustainably higher profits.

The operating business looks solid, as the group supplies modern turbines from the Delta4000 series and closely links these sales to long-term maintenance contracts with terms of up to 25 years. The service business provides recurring, predictable revenue. At the same time, the enormous electricity demand from AI data centres is driving demand in the US. On the downside, however, intense price competition for new projects and potential political hurdles in the German domestic market are weighing on the business.

Analysts have a consensus price target of just under EUR 53, but the wide range of estimates also warrants caution. With a 2026 P/E ratio of around 17, the market is already paying for future earnings yet to be generated. Nevertheless, Nordex remains an exciting turnaround bet for investors, whose success depends on stronger margins. From a technical perspective, however, the price must not fall below the EUR 32 – 34 range; otherwise, prices around EUR 25 could follow. On the upside, above EUR 41.50, the path to EUR 50 is almost clear.

Jungheinrich: Robotics Innovation Meets Tough Industry Headwinds

The logistics industry is making huge strides forward through automation, but shares in Hamburg-based specialist Jungheinrich are currently in an accelerating nosedive. The stock recently slumped below EUR 21, marking a bitter multi-year low. The sales launch of the new EAC 212a autonomous transport robot has so far failed to stop the wave of disappointment.

Yet the company demonstrates strong operational innovation: Using LiDAR sensors and 3D cameras, the EAC 212a transports loads up to 1,200 kg to their destination without extensive alterations to industrial buildings. In addition, a large order for 5,000 vehicles from Kühne + Nagel secures or strengthens the baseline capacity utilisation of the Hamburg factory buildings. Although order intake in the first half of 2026 rose 7.7% to EUR 2.95 billion, EBIT fell quite dramatically and disappointingly from over EUR 210 million to below EUR 145 million.

High market interest rates, industrial customers' reluctance to buy, and aggressive price competition from China are chiefly responsible for this margin pressure, which is now just 5.4%. Analyst firms are divided; while some institutions have drastically downgraded the stock, others still maintain a buy recommendation. As long as pricing pressure persists, buying into Jungheinrich requires strong nerves. Technically, prices below EUR 20 are likely to add pressure and push the share price toward EUR 15. Only prices above EUR 24 could provide relief.

RE Royalties: Clever Financing Model

While traditional industrial and plant manufacturers struggle with fluctuating margins, RE Royalties takes a completely different approach. As a pioneer in revenue-based royalty financing for renewable energy, the Canadian company provides developers with capital. The mechanism is as simple as it is effective: short-term, secured loans with interest rates of 12% to 13% are ideally repaid relatively quickly, while long-term royalty interests secure reliable cash flows over 15 to 20 years. The capital is continuously reinvested, generating a strong compound interest effect.

In early August 2026, RE Royalties reinforced this successful business model with a major announcement. The company invested a further USD 1.0 million in royalty interests in a solar portfolio owned by Solaris Energy. This brings the total partnership value to USD 4.8 million. The signed letter of intent (LOI) for up to USD 67.5 million is likely even more exciting, as it could pave the way for financing more than 90 additional solar projects in the US. With the full repayment of a CAD 2.4 million loan by Revolve Renewable Power, management has a strong cushion for further growth. The portfolio already comprises over 100 royalty interests in North America, South America and Asia.

Technically, the stock offers an extremely attractive starting point. Although the stock recently fell below the key support level at CAD 0.35, it subsequently stabilised at the more significant support level at CAD 0.30. This floor has been tested several times and has withstood the pressure. At a current share price of around CAD 0.31, the stock is preparing to rise again. Once it reclaims the CAD 0.35 mark, fresh momentum toward the first price target at CAD 0.50 will emerge. If a sustained breakthrough succeeds, prices between CAD 0.60 and CAD 0.70 will come into view over the longer term. A key factor, of course, is whether the CAD 0.30 floor continues to hold.

Conclusion

Nordex offers recovery potential thanks to stable demand for wind turbines and a growing maintenance business, but must first prove that full order books can generate sustainably higher profits. Jungheinrich scores points with modern automation technology, but is currently suffering noticeably from its weak operating margin and tough competitive pressure from China. RE Royalties impresses with an innovative financing model and, after successfully testing the CAD 0.30 technical floor, once again offers a positive outlook for opportunity-oriented investors.