August 31st, 2021 | 11:27 CEST
NEL, Enapter, Daimler: Where hydrogen still offers opportunities
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"[...] Why should a modular electrolyzer cost more than a motorcycle? [...]" Sebastian-Justus Schmidt, CEO and Founder, Enapter AG
At home in Southern Germany, the passionate stock exchange expert has been accompanying the capital markets for about twenty years. With a soft spot for smaller companies, he is constantly on the lookout for exciting investment stories.
NEL: Will the stock come back?
For a long time, the NEL share was considered the star on the trading floor. Even today, it still has a great return of 280% over a three-year period. But over the course of a year, the share has already suffered a loss of around 30%. What is the reason for this? For a long time, the specialist's shares in the production, storage and transport of hydrogen were considered the absolute growth darlings of the markets. For this reason, too, the stock received advance praise: Investors were anticipating a future that was not yet at all tangible. For months this went well - until the tide turned and hydrogen stocks were considered overvalued.
Since then, NEL has also been on a downward trend, interrupted by a few interim bursts. Whenever the Company publishes quarterly figures, skeptics feel confirmed: The meager sales still do not fit the Company's valuation. Most recently, however, the stock was able to find a bottom twice, around EUR 1.30 and is currently trading around EUR 1.40. The sell-off phase currently seems to be interrupted. However, this does not yet mean that the turnaround will happen now. Both bulls and bears should look very closely at NEL from now on because something will happen soon!
Enapter: Technology lowers hydrogen price
Things are currently much calmer at the German hydrogen specialist Enapter. The share has lost about 9% in the past month, but the stock still has the image of a solid German industrial company. Enapter specializes in making hydrogen cheap, which is precisely the key to the success of the energy carrier. To this end, the Company has patented its electrolyzers and designed them to be modular. That means that several units can be combined with each other.
Most recently, two analyst firms called for a target price of EUR 34. Both Pareto Securities AS and First Berlin recommend the share as a buy. Especially the high order intake in the first half of the year gives hope that the Company is hitting a nerve in the market and can grow strongly, according to First Berlin. Another factor in Enapter's favor is that the Company plans to start mass production at its site in North Rhine-Westphalia next year. Enapter already manufactures in Pisa, Italy. The stock combines German engineering with future technology. The focus on low production costs for hydrogen is right. The share is exciting.
Daimler: Planning for 2027
Daimler, in its truck division, could use hydrogen. Although the die seems to be cast in favor of lithium batteries in passenger cars, hydrogen could play to its strengths in commercial vehicles. In May, Daimler started a test run with a new hydrogen prototype. The goals are clear: ranges of 1,000 kilometers are desired - under safe and comfortable conditions. The hydrogen truck is also to undertake test runs on the road before year end. The prototype is seen as an important step toward series production and it could go into series production in 2027.
Although there is still a lot of time before then, the stock market likes to anticipate such visions of the future. Freight carriers who are climate-neutral are likely to enjoy advantages soon - and, above all, will be able to travel more cheaply. The Daimler share has also recently become cheaper. Over three months, the share price fell by 8.5%. The momentum is thus somewhat gone. However, in the long term, the stock has a future - Daimler, like other German automakers, has left the valley of tears.
If you want to back hydrogen, you have to think from the perspective of potential customers. Here, the price often plays a decisive role. Enapter is perfectly positioned with its technology to gain market share and make hydrogen green and cheap. In contrast to NEL, the value is also still considered an insider tip.
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