30. March 2021 | 08:12 CET
Nel ASA, Enapter, Nikola - hydrogen shares on the verge of a comeback!
The hype surrounding hydrogen companies was abruptly curbed on the stock markets by sharp price falls in recent weeks. In some cases, the stocks' price, which had previously been running hot, fell by more than half. A healthy, strong correction in the upward trend. The goal of creating a carbon-free economy, especially in the energy sector, can hardly be achieved without green hydrogen technologies. Thus, the profiteers of this trend will continue to expand their valuations in the future.
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ISIN: NO0010081235 , DE000A255G02 , US6541101050
"[...] Why should a modular electrolyzer cost more than a motorcycle? [...]" Sebastian-Justus Schmidt, CEO and Founder, Enapter AG
Enapter - Saerbeck the center of Europe!
What role does the 7,000-inhabitant community of Saerbeck, located in the northern Münsterland region, play when it comes to renewable energy strategies? A very big one because the "NRW climate municipality" is a pioneer and already produces twice the electricity it needs through its bioenergy park, rooftop solar panels and a nearby wind farm.
Saerbeck plans to launch hydrogen mobility in 2022. Thus, a hydrogen bus line and a hydrogen filling station will be established in the following years. It is a win-win situation between the community and Enapter AG, which plans to build its campus there by 2022 at the latest. In the future, the modular systems for the production of green hydrogen will be manufactured and further developed here in large quantities - 100,000 AEM electrolyzer units per year are expected. The new production and research site is to be operated entirely with renewable energies from the Saerbeck solar, wind and biomass plants, as well as from the Company's solar plants and hydrogen storage facilities.
Enapter AG is thus taking on the pioneering role for an entire industry and could grow mightily as a result. If you take a closer look at Germany's goals for building a self-sustaining hydrogen industry, the Company is swimming on the top wave. The German government plans to build up to 5 GW of green hydrogen capacity by 2025 and support the construction and operation of electrolyzers. Much of this capacity could come on stream as early as the end of 2022 through the Saerbeck campus, which should be able to produce modular electrolyzers with a total annual capacity of 280 MW, more than 5% of the federal government's target. The European Union's plans are equally ambitious. Their ambition is to install at least 40 GW of renewable hydrogen electrolyzers by 2030 and deploy green H2 technology on a large scale in all hard-to-decarbonize sectors by 2050.
Investors have also recognized the signs of the times. After the subscription offer ended on March 9 with an oversubscription of 42%, a further EUR 16.1 million was subscribed in the private placement afterwards - bringing the total gross proceeds to EUR 17.8 million. Enapter AG is in a fast-growing market and could become a market leader in green hydrogen technology due to its technological advantage and existing know-how. First Berlin analysts see the share as a buy candidate with a price target of EUR 41.70, a target that is definitely achievable.
Nel ASA - New attempt
The share price of the Norwegian industry leader Nel ASA has suffered considerably in recent weeks. It went from the January high of EUR 3.40 to EUR 2.06 in the low south. At this level, around EUR 2.15, there are striking support zones that should be held at all costs. So far, this mark has been held several times. Yesterday, the price successfully moved away from the danger zone and was at EUR 2.32 at the close of trading, a gain of more than 5%. If the mark is defended, prices around the EUR 3 mark could beckon again relatively quickly.
Fundamentally, Nel ASA announced positive news last week. The Norwegians signed a letter of intent with Haldor Topsoe for the supply of end-to-end green ammonia and methanol solutions. Under the MOU, Nel will contribute extensive experience in alkali and PEM electrolysis technology and proprietary hardware, as well as systems engineering knowledge for hydrogen production. Haldor Topsoe will provide technical proprietary hardware, catalysts and technical service for its ammonia and methanol technologies.
Nikola - On the brink
If you look at the specialist's chart for electrically powered trucks, it is difficult to imagine a trend reversal. Fraud allegations against the former management are still weighing on the share price. In addition, recurring product shifts are gnawing at investors' nerves. Currently, Nikola plans to launch its first zero-emission, fuel cell-powered truck in 2023, complete the first phase of a factory under construction in Arizona by the end of the year, and build the first of up to 700 hydrogen fueling stations starting next quarter. To this end, the stock market is to be tapped with a capital increase of USD 100 million. From a chart perspective, the share price is currently at a critical support line at EUR 13.50.
The share price is currently at an impressive short position. Currently, the short ratio amounts to a proud 35%. Should positive news come across the ticker soon, a price fireworks could be ignited. However, there are also risks of a total loss: a hop or top game for investors with strong nerves.