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25. August 2021 | 11:40 CET

Nel ASA, dynaCERT, Steinhoff - Boost for the portfolio with turnaround candidates

  • Hydrogen
Photo credits:

As the saying goes, the profit is in the purchase, but it is often not easy to determine the "bottom" on the stock market. Many factors need to be taken into account. First, there is the corporate sector and its sentiment. Is there fantasy? Is the market in trend? Then one should look at the fundamentals. Is there debt? Is the company making money? What is the sales growth, and what are the forecasts? After that, one can look at the varying analyst opinions and set up one's own rating system that awards points for different aspects. Using this checklist, one can quickly determine whether a company is attractive. In every portfolio there should be standard stocks, which make up the majority of the portfolio. A small part of the portfolio can be invested in speculative stocks, as they offer significant profits that can give the portfolio a boost. Today we take a closer look at three of these turnaround candidates.

time to read: 4 minutes by Armin Schulz
ISIN: NEL ASA NK-_20 | NO0010081235 , DYNACERT INC. | CA26780A1084 , STEINHOFF INT.HLDG.EO-_50 | NL0011375019

Jim Payne, CEO, dynaCERT Inc.
"[...] We are committed to stay as the number one Canadian and global leader in the Hydrogen-On-Demand diesel technology [...]" Jim Payne, CEO, dynaCERT Inc.

Full interview



Armin Schulz

Born in Mönchengladbach, he studied business administration in the Netherlands. In the course of his studies he came into contact with the stock exchange for the first time. He has more than 25 years of experience in stock market business.

About the author

Nel ASA - Waiting for a breakthrough

Nel ASA is undoubtedly operating in a market of the future. However, this has brought the share far too quickly into spheres where only a crash could follow. Until the end of January, hydrogen was the hype topic par excellence. The valuations of many hydrogen stocks were astronomically high, even though the companies were posting losses across the board. All investors who jumped on the hydrogen bandwagon too late and did not make the jump off are now complaining about very high losses. Here, investors did not look at the fundamentals when they bought the stock and are now paying the price.

The figures for the second quarter were weak. While sales of 163.7 million Norwegian kroner (NOK) were achieved, the loss was almost as high at NOK 149.1 million. The Company has secured several big-name partners such as Wood, First Solar, Kvaerner, and SFC Energy. However, these are mostly pilot projects that certainly have the potential for something big but are not yet proven products that can be offered to the market. Partner Wood recently secured a EUR 500 million loan from the UK government to expand its hydrogen business. Nel ASA could benefit from this.

The stock came under renewed pressure as new shares were issued, taking the papers to a support line at NOK 13.27. This support held, but the downward trend is currently fully intact. Only a closing price above NOK 15.95 would brighten the chart picture. In contrast to competitors such as Plug Power, Nel ASA has formed a new low for the year. As an investor, one waits for new momentum for the share.

dynaCERT - Good sales figures in the second quarter

According to its statements, dynaCERT has suffered massively from the Corona pandemic. The Company aims to install its HydraGEN technology in all diesel vehicles because it uses less fuel, the engine lives longer, and there are fewer emissions, which ultimately benefits the environment and the owner's wallet. Even though the pandemic has brought sales to a significant halt, management has not been idle and has used the time to obtain CO2 certificates that could be sold at a profit.

It is not yet there, but with HydraLytica, there is already a solution that can capture the CO2 savings. Sales have been rising again significantly since the Corona situation slowly improved towards the summer. In the second quarter of 2020, sales of around CAD 20,000 were generated, but this year they have risen to over CAD 414,000. It remains to be seen whether the development will continue in this way. New distribution partners have been acquired so that dynaCERT products are now available in 38 countries.

First, there was trouble from Corona, and then the stock was dragged down by the poor sentiment in the hydrogen market. The share has closed the open gap from July 2019 and is currently trending sideways. A close above CAD 0.40 is needed to break the downtrend. If it is confirmed that carbon credits are received for the installation of the HydraGEN technology, this would be a booster for the Company.

Steinhoff - Numbers and creditor meetings are getting closer

Steinhoff has been fighting insolvency since 2017 and the situation is slowly coming to a head. Before the creditors' meeting in Amsterdam on September 3, the Group plans to publish quarterly figures on August 27. These should be looked at closely, as they could indicate how successful the restructuring is. In any case, the last quarterly figures were positive for the Company. If the hurdle in Amsterdam is cleared and the creditors are prepared to make concessions, the Group's continued existence is not yet assured. First, the creditors' meeting in South Africa must also approve the plans.

To increase the chances of a positive outcome, the Company increased its settlement offer by around EUR 186 million to EUR 1.34 billion at the end of July. This appears to have appeased one of the toughest opponents, the Hamilton Group. In addition, there are still court battles to be settled, which makes the current situation very confusing. Among other things, there is the question of who is entitled to vote at the meetings. If a settlement can be reached, the oppressive EUR 11.18 billion debt will mostly vanish into thin air.

With an increase in the offer to creditors, the share has already moved to almost EUR 0.134. At the moment, anything is possible, but one should wait for the news about the two creditor meetings before getting in. With this starting position, an investment would be like a coin toss. One should instead have the share on the watchlist and keep an eye on the news.

For every turnaround, a spark is needed to start the rocket. Then big profits are possible. At Nel ASA, the road is currently a bit further, as hydrogen is simply too expensive at the moment. At the cleantech Company dynaCERT, one should keep an eye on the upcoming figures and watch out for news regarding CO2 certificates. Steinhoff could start up at short notice if the Company's creditors approve the restructuring plans. Here, too, one should follow the news closely.


Armin Schulz

Born in Mönchengladbach, he studied business administration in the Netherlands. In the course of his studies he came into contact with the stock exchange for the first time. He has more than 25 years of experience in stock market business.

About the author

Conflict of interest & risk note

In accordance with §34b WpHG we would like to point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH may hold long or short positions in the aforementioned companies and that there may therefore be a conflict of interest. Apaton Finance GmbH may have a paid contractual relationship with the company, which is reported on in the context of the Apaton Finance GmbH Internet offer as well as in the social media, on partner sites or in e-mail messages. Further details can be found in our Conflict of Interest & Risk Disclosure.

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17. September 2021 | 13:43 CET | by Nico Popp

NEL, dynaCERT, Volkswagen: Where hydrogen has not yet been written off

  • Hydrogen

Will hydrogen become a climate saver in homes? Or will it revolutionize the propulsion technology of ships and trucks? Even if hydrogen has lost some of its fantasy in recent months, the energy carrier is still on the agenda of many inventors and engineers. We introduce three companies that are - sometimes more and sometimes less - involved with hydrogen.


15. September 2021 | 14:23 CET | by André Will-Laudien

Nel ASA, Enapter, Plug Power, FuelCell Energy - It is time to go all out!

  • Hydrogen

Hydrogen is not only a climate-friendly means of propulsion for automobiles and heavy-duty transport. Large industries such as chemicals and steel can use hydrogen technology to reduce their consumption of natural gas. There are costs involved when converting to hydrogen, most of which are only feasible with political support. The German government's national hydrogen strategy fits in well here. But medium-sized industries, especially energy-intensive sectors, could also become much more environmentally friendly with hydrogen-based technologies. Which stocks are well-positioned here?


10. September 2021 | 13:35 CET | by Carsten Mainitz

Enapter, NEL, Ballard Power - Hydrogen: This will happen!

  • Hydrogen

If you follow the political discussion in Germany regarding climate and green energy, the debate is almost exclusively about solar and wind power. Electric mobility is the order of the day. But soberly considered, there will and must be a coexistence of several approaches. Hydrogen solutions have received far too little attention. But this technology is urgently needed for the energy transition. The industry is still relatively young, but there is a very good chance that a huge market will emerge in which several companies will be able to operate successfully and profitably. Are these the winners?