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January 16th, 2024 | 07:00 CET

Nel Asa, Altech Advanced Materials, Nordex - Now the analysts speak

  • Technology
  • Innovations
  • renewableenergies
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Here we go again; the eagerly awaited reporting season began last week. After the major banks initially published their figures, both positive and negative surprises are likely to dominate the markets until mid-February. Several analyst firms have already expressed their forecasts and adjusted their share price targets in advance. The performance of companies in the renewable energy sector is likely to be particularly exciting. High volatility is guaranteed here.

time to read: 3 minutes | Author: Stefan Feulner
ISIN: NEL ASA NK-_20 | NO0010081235 , Altech Advanced Materials AG | DE000A31C3Y4 , NORDEX SE O.N. | DE000A0D6554

Table of contents:

    Nordex - Further orders in the bag

    Will the Hamburg-based company's shares bottom out in the EUR 10 range this time, or is there a threat of another test of last year's lows of EUR 6.98? The chart picture brightened further when the EUR 10 hurdle was breached last week. A break above the downtrend established since March 2023 at EUR 11.42 would open up potential initially in the region of EUR 13.67.

    The Nordex share price received a tailwind from the announcement of two orders from Germany and Scotland. The wind turbine manufacturer received extensive orders from UKA, a developer of wind and solar parks. The agreement covers the delivery of a total of 32 turbines from the Delta4000 series for seven wind energy projects in various regions of Germany, including Mecklenburg-Western Pomerania, Saxony-Anhalt, Schleswig-Holstein and North Rhine-Westphalia. The order has a total output of 197.1 megawatts.

    One day earlier, Nordex had already announced a significant order from the UK. Nordex is to install 16 turbines for three wind farms in Scotland. The turbines with tower heights of between 83 and 125 meters are to be installed in the north of Scotland from 2026, the Company announced. Nordex did not provide details of the total order value or the client.

    In their current study, analysts at Deutsche Bank Research continue to rate the wind turbine manufacturer as a "Buy" ahead of the publication of the fourth quarter figures. The target price remains at EUR 14.50. Deliveries in the final quarter should be on par with the third quarter.

    Altech Advanced Materials - Ambitious plans

    The decline in the Altech share from last year's high of EUR 17.40 to the current EUR 8.35 due to the placement of a capital increase at EUR 7.60 could become one of the biggest opportunities on the market due to the excellent future prospects. This is because the Frankfurt-based company has two hot potatoes in the field of stationary grid storage systems for large-scale plants such as wind and solar parks and coating materials for batteries.

    Altech Advanced Materials achieved a milestone with the presentation of the feasibility study for the Silumina Anodes™ coating project. The innovative coating method improves battery performance, providing at least a 30% higher energy density, extended service life and enhanced safety.

    The study forecasts annual revenues of EUR 328 million from this project, with an average EBITDA of EUR 105.6 million. It should be emphasized that letters of intent have already been signed with two German car manufacturers, two US car manufacturers, an American company for the supply of battery materials and a European battery manufacturer.

    An investment of EUR 112.5 million is expected for the main production plant, which is set to produce 8,000 tons of coated silicon annually, along with three additional auxiliary buildings. Construction is expected to take more than two years, and the plant should take around three years to reach full operational capacity.

    Nel Asa and Plug Power - Analysts lower their thumbs

    Despite the staggering share price losses, with Plug Power alone experiencing a decline of over 70% in the past year and the Norwegian company seeing a drop of nearly 60%, it appears that the end of the bottoming process has not been reached from a technical chart perspective. Nel Asa hit a new four-year low of NOK 5.94 and fell well below the coronavirus low of NOK 7.22.

    Despite the ongoing decline in stock value, Royal Bank of Canada analyst Erwan Kerouredan still considers the hydrogen specialist an "Outperformer." Nevertheless, he significantly lowered his price target from the previous NOK 22 to NOK 14. Given the current drop in stock prices, this adjustment still implies a potential increase of nearly 150%.

    The situation is similar for fuel cell pioneer Plug Power. At USD 3.44, the hopeful from the United States is only marginally above the low set at the outbreak of the pandemic in March 2020. This comes after the Company posted a performance of no less than 2485%.

    Despite the low level, the short ratio is a high 29%. Financial expert Biju Perincheril from Susquehanna lowered the price target to USD 4.50 and downgraded Plug Power from "Buy" to "Hold".

    Altech Advanced Materials reached a milestone with the submission of the feasibility study for Silumina Anodes™. Despite the high losses in stock prices, both Plug Power and Nel Asa continue to be closely scrutinized by analysts. Nordex could bottom out at the current level.

    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.

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    Der Autor

    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.

    About the author

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